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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.

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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.

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