Palantir reported first quarter revenue of $884mn ($863mn expected), up 39% year-over-year and 7% quarter-over-quarter. Performance was driven by its US businesses, both commercial and government.
Underlying operating income rose 73% to $391mn. Free cash flow more than doubled to $304mn and net cash, including leases, was £5.2bn at period end.
For the coming quarter, Palantir expects revenue to land between $934-938mn, with underlying operating income of $401-405mn. For the full year, revenue is now expected around $3.9bn (previously $3.75bn), with underlying operating income of around $1.7bn.
The shares fell 9.3% in after-hours trading.
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Palantir key facts
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