04:56 PM EST, 11/03/2025 (MT Newswires) -- Palantir Technologies ( PLTR ) late Monday reported stronger-than-expected third-quarter results as the software maker's US sales soared.

Consolidated revenue climbed 63% year-on-year to $1.18 billion, exceeding Wall Street's $1.09 billion estimate. Adjusted per-share earnings totaled $0.21, topping the consensus on FactSet of $0.17.

US revenue advanced 77% year over year to $883 million in the third quarter, driven by sharp gains in both the commercial and government segments, Palantir ( PLTR ) said.

Palantir's ( PLTR ) stock price has soared 174% this year through Monday close, buoyed by several contracts with the Trump administration.

The company's software is used by both government and commercial enterprises, including the American defense sector. Its Artificial Intelligence Platform drives automation across operational processes.

Wedbush Securities on Sunday raised its price target on Palantir's ( PLTR ) stock to $230 from $200, saying the Street's top-line estimate for the third quarter looked "very beatable."

The company's stock closed 3.4% higher on Monday, pushing its market capitalization to $491.5 billion, according to Yahoo Finance data. Shares were little changed in after-hours trade.

The market cap will likely hit a trillion dollars over the next two to three years as the company benefits from stepped-up AI investments under the Trump administration, Wedbush analysts including Daniel Ives wrote in a note.

For 2025, the company expects revenue between $4.396 billion and $4.400 billion, compared with $4.14 billion and $4.15 billion previously expected. Market projections point to $4.14 billion.

Palantir ( PLTR ) forecast fourth-quarter revenue of $1.327 billion to $1.331 billion, compared with the Street's $1.18 billion estimate.