(CercleFinance.com) – Palantir reported sharply higher quarterly revenue on Monday, but its forecast for the current quarter disappointed Wall Street, causing its stock to fall more than 22% in early trading.
The American company, which specializes in the exploitation of big data, forecasts for the current three months a turnover of 470 million dollars within the framework of its base scenario, which is much less than the consensus which is currently $483 million.
In the first quarter, the Denver-based group saw its turnover climb 31% to $446 million, but remained in the red, posting an operating loss of $39 million.
As for the longer-term outlook, Alex Karp, its chief executive, confirmed that the company is still aiming for revenue growth of at least 30% per year by 2025.
Palantir Technologies designs software platforms to help companies with ‘complex and sensitive’ data environments.
This ‘big data’ specialist, which helps manufacturers to manufacture more secure automobiles and planes and laboratories to discover new drugs, also enables its public sector clients to combat terrorism.
With a decline of more than 48% in its share price since the start of the year, its market capitalization has only reached $15 billion, far from the highs reached at the very beginning of 2021.
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