Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Palantir lowers full-year guidance, pulls forecast for medium-term growth

(Sharecast News) - Shares of Palantir reeled after the data analytics outfit guided lower for full-year sales and profits. For its second quarter ending on 30 June, the company reported a 26% jump in revenues to reach $473m, driven by a 45% jump in the US to $290m.

Despite that performance, it incurred in a net loss of -$179,329 or 1 US cent per share.

Palantir, which counts the US government among its largest clients, also said that it closed the period with a total contract value of $792m while free cash flow came in at $61m, for a 13% margin.

However, it lowered its full-year guidance for revenues to a range of $1.9-1.902bn and that for adjusted income from operations to $341-343m.

Analysts had been anticipating sales of $1.96bn and operating profits of $531m.

The company also pulled guidance for annual growth of 30% or higher through 2025.

As of 1438 BST, shares of Palantir were falling 14.28% to $9.85.

Share this article

Related Sharecast Articles

Prospex Energy reports reduced first-half loss
(Sharecast News) - Prospex Energy reported a significantly reduced loss in its interim results on Thursday, announcing that it has fully repaid all outstanding debt, positioning itself for future growth and development.
S4 Capital maintains profit targets after tough first half
(Sharecast News) - S4 Capital maintained its full-year profit targets in its interim results on Thursday, despite a significant drop in net revenue, as it warned of a bigger-than-expected fall in full year net revenue.
RBC Capital lifts price target on JTC after Citi Trust deal
(Sharecast News) - RBC Capital Markets lifted its price target on JTC on Thursday as it updated its forecasts for the first-half results, forex and the Citi Trust acquisition, assuming it completes at the end of H125.
James Fisher secures £95m of new bank facilities
(Sharecast News) - Marine engineering services provider James Fisher & Sons said on Thursday that it has secured £95.0m of new bank facilities, providing it with increased flexibility to operate and reducing overall maintenance costs.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.