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Palantir Stock Tumbles After Annual Forecast Disappoints

  • Adjusted income to be about $342 million on $1.9 billion sales
  • Both numbers were well short of the average analyst estimates
Updated on

Palantir Technologies Inc. shares fell as much as 15% after the data software company forecast annual sales and profit that fell short of analysts’ estimates.

The outlook reflects the sharp challenge facing the data software company when fewer customers are willing to open their wallets. The stock decline Monday was the biggest intraday drop since May, when the company last reported financial results.