:Palantir Technologies Inc lowered its annual revenue forecast to below market estimates after the data analytics software company reported a surprise loss on Monday, sending its shares down 15 per cent in trading before the bell.
"The size of these contracts, coupled with government procurement, is what makes it so unpredictable."RBC Capital Markets analyst Rishi Jaluria said he was surprised by the weakness in non-U.S. government business, given the company's big push with European Union governments post Russia-Ukraine conflict.
Commercial revenue grew 46 per cent, with U.S. commercial revenue more than doubling in the second quarter.
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