Palantir's shares plunge 20% after Q1 report - Breaking The News

Palantir's shares plunge 20% after Q1 report

9 May

1 min read

EPA-EFE/CHRISTOPHE PETIT TESSON

Palantir Technologies' shares plunged over 20% on Monday after the company released its latest report on quarterly earnings.

Palantir's first-quarter revenue increased 31% year-on-year to $446.3 million. The company's net loss stood at $101.38 million, decreasing 17% from the same period last year. Palantir's diluted loss per share dropped to $0.05 from $0.07 recorded in the first trimester of 2021.

Commenting on the outlook for the next quarter, Palantir said it expects revenue of $470 million. Moreover, the company's Chief Executive Alex Karp (pictured) shared that the company expects annual revenue growth of 30% or more through 2025.

Palantir's shares plummeted 20.31% at 10:03 am ET.

earnings palantir

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