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Reuters
Palantir Q2 revenue forecast below estimates; expects Ukraine war to boost growth
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. On the Europe crisis, Chief Operating Officer Shyam Sankar said nothing as a result of the war is reflected in the first quarter, but Palantir has been working and investing in anticipation of contract awards from governments and expects “marginal impact” in the second quarter and more growth beyond that.
