Palantir Technologies Reports Loss
Palantir Technologies (NYSE: PLTR) saw its shares drop 15.8% on Thursday following a fourth-quarter report revealing a net loss of $156.2 million, compared to a loss of $148.3 million in the same quarter last year. The company also fell short of analysts’ expectations, reporting adjusted earnings per share of $0.02 instead of the anticipated $0.04.
Despite the losses, Palantir’s revenue rose 34% year-over-year to $433 million, with the commercial division experiencing a significant 47% growth, including a 132% increase in U.S. sales. The company aims to grow revenue by approximately 30% year-over-year in the first quarter of 2022, targeting $443 million.
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