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

Axel Springer to split classifieds business from media assets
(Sharecast News) - Politico owner Axel Springer said on Thursday that it had struck a deal with its largest shareholder KKR to split its classifieds business from its media assets.
Mineral & Financial reports progress at Lagoa Salgada
(Sharecast News) - Mineral & Financial Investments updated the market on its investment in the Lagoa Salgada Polymetallic Project in Portugal, managed by Ascendant Resources, on Thursday.
Feedback inks neighbourhood diagnostics collaboration deal
(Sharecast News) - Medical imaging and diagnostic technology specialist Feedback announced a collaboration agreement with an unnamed provider of primary care solutions on Thursday, to develop a novel 'neighbourhood diagnostics solution' aimed at streamlining NHS diagnostic pathways and reducing patient wait times.
SkinBioTherapeutics reports positive results from testing with Croda
(Sharecast News) - SkinBioTherapeutics announced on Thursday that final testing of its 'SkinBiotix' technology by Croda Beauty Care had yielded positive results, paving the way for commercialisation.

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.