Shares of Palantir Technologies fell more than 8% in premarket trading on Tuesday as slowing contract growth and extremely high expectations overshadowed a strong third-quarter performance. The Denver-based software company reported revenue of $2.31 billion, up 96% year-on-year and above analysts' expectations. However, total contract value (TCV) increased just 6% to $2.918 billion, sharply slowing from 49% growth in the previous quarter.
US commercial TCV growth also decelerated to 11%, compared with 153% in the previous quarter. Palantir shares were down 8.22% at $163.68 at 5:31 am ET. Here we are to serve you with news right now.
It does not cost much, but worth your attention. Choose to support open, independent, quality journalism and subscribe on a monthly basis. By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Extract — continue reading at the source.
