Palantir Raises Sales Forecast on Strong Government Uptake
- Third-quarter revenue will be $385 million, company said
- Second-quarter revenue grew 49%; loss was 7 cents a share
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Palantir Technologies Inc. forecast sales of its data software will grow 33% in the third quarter, reflecting heightened demand from government agencies and that more companies are beginning to sign up.
Revenue will be about $385 million in the period ending in September, the Denver-based company said in a statement Thursday. That exceeds the company’s previous outlook as well as an average of analysts’ estimates compiled by Bloomberg. The shares jumped more than 7% in the first minutes of trading Thursday.