By Dhirendra Tripathi
Investing.com – Palantir Technologies (NYSE:PLTR) dropped more than 3% Tuesday after losses more than doubled for the March quarter.
The company reported a net loss of $123 million for the period, compared with a loss of $54 million a year earlier. On a diluted per share basis, earnings were 4 cents against a 1-cent loss in the year-ago March quarter.
The loss came even as the data integration and software company grew revenue 49% year-on-year to $341 million.
For the ongoing quarter, it pegged revenue at $360 million, a 43% year-over-year growth.
It reiterated that annual revenue would grow 30% or greater for 2021 through 2025.