Shares of Palantir Technologies Inc. (PLTR) dropped 6.3% in premarket trading Tuesday, after the data integration and software company reported a surprise fourth-quarter loss, although revenue rose more than forecast. The company reported a net loss that narrowed to $148.3 million, or 8 cents a share, from $159.3 million, or 29 cents a share, in the year-ago period. The company said its losses included $241.8 million in stock-based compensation and $18.9 million in employer payroll taxes. The FactSet consensus was for a profit of 2 cents a share. Revenue rose 40.4% to $322.1 million, beating the FactSet consensus of $300.7 million. Palantir expects first-quarter revenue growth of 45% and 2021 revenue to rise "greater than" 30%. The FactSet consensus for 2021 revenue of $1.41 billion implies 29% growth. Palantir's stock has doubled (up 100.3%) over the past three months through Friday, while the S&P 500 has gained 8.5%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
February 16, 2021 07:15 ET (12:15 GMT)
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