Palantir’s Quarterly Loss Widens in First Public Results
- Company lost $853 million on $289 million in revenue
- Annual sales forecast boosted to $1.07 billion, 44% growth
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Palantir Technologies Inc., in its first financial results since going public, reported skyrocketing third-quarter losses as compensation costs surged.
Palantir also boosted its revenue growth forecast for this year to 44%, totaling $1.07 billion and just exceeding the amount analysts expected on average, according to data compiled by Bloomberg. It also increased its 2020 forecast for an adjusted operating profit to $130 million to $136 million. The stock was little changed in extended trading after closing at $14.58 in New York.