US Markets Split on Election Day; Palantir Reports Record Quarterly Revenue
US stocks showed mixed performance on Tuesday as Nasdaq advanced while the Dow declined, amid a flurry of corporate earnings reports.
US equity benchmarks diverged during Tuesday’s trading session. While the Nasdaq Composite and S&P 500 tracked upward, the Dow Jones Industrial Average moved into negative territory. Investors continued to process recent economic data, including a manufacturing PMI of 55.5 percent and stable job opening figures, alongside rising Treasury yields.
Palantir Technologies announced that its third-quarter revenue reached $2.313 billion, a 96% increase year-over-year. This marks the company's first time surpassing $2 billion in revenue in a single quarter. Notably, US commercial revenue grew 148% to $984 million, outpacing federal government contract revenue for the first time.
CEO Alex Karp stated that the shift in revenue composition reflects a historical milestone for the business. Following the results, Palantir increased its full-year 2026 revenue guidance to between $8.530 billion and $8.534 billion. Despite the strong quarterly performance and raised guidance, the company’s share price declined in mid-morning trading.