Palantir Technologies Inc. shares plummeted as much as 22% on Monday, the biggest intraday drop since September 2020, after the software maker reported mounting losses and a disappointing sales forecast.
The company lost $101 million in the first quarter, a sign it’s struggling to improve margins by offering more automated data analysis software. The net loss was an improvement over the same period a year ago but wider than analysts expected. The loss was 5 cents a share, the company said in a statement Monday.
Revenue in the second quarter will be at least $470 million, Palantir said. Analysts had been expecting $487 million on average, according to data compiled by Bloomberg.
https://finance.yahoo.com/news/palantir-falls-quarterly-loss-wider-134851077.html
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