Palantir results beat estimates in first quarter as public company

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Palantir Technologies Inc beat market expectations in its first quarter as a public company and raised its 2020 revenue forecast on Thursday, as it shored up large government and aerospace contracts.

beat market expectations in its first quarter as a public company and raised its 2020 revenue forecast on Thursday, as it shored up large government and aerospace contracts.

The data analytics firm, known for its work with U.S. government defense and intelligence agencies, global banks and energy companies, went public in September through a direct listing as opposed to a traditional initial public offering. “The government business had a great quarter ... we’re investing far beyond just the army - space force, the navy, air force,” Chief Executive Officer Alexander Karp told analysts.

It also said it expects annual adjusted operating income to be between $130 million and $136 million.

 

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Sarumon is pleased.

'The government business had a great quarter ... we're investing far beyond just the army - space force, the navy, air force,' Chief Executive Officer Alexander Karp told analysts. Palantir

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