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Reuters
Palantir Q2 revenue forecast below estimates; expects Ukraine war to boost growth
Palantir Technologies Inc forecast second-quarter revenue below Wall Street expectations on Monday, indicating slowing sales growth, as the data analytics software firm ramps up its salesforce to sign more deals amid rising competition. However, the company, known for its work with the U.S. Army and the Central Intelligence Agency, said it sees a “wide range” of potential upside to its forecast driven by opportunities arising from “developing geopolitical events”, with the Ukraine war likely to boost defense spending by governments. But slowing revenue growth at the software maker’s government business, which rose 16% in the first quarter, also raised concerns.
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