Business

Palantir adds more contracts in fourth quarter, revenue jumps 40per cent

U.S. data analytics firm Palantir Technologies Inc reported a 40per cent rise in sales in its second quarterly results since going public in September last year.

FILE PHOTO: A person wears a Palantir Technologies (PLTR) sweater outside the New York Stock Exchan
FILE PHOTO: A person wears a Palantir Technologies (PLTR) sweater outside the New York Stock Exchange (NYSE) on the day of their initial public offering (IPO) in Manhattan, New York City, U.S., September 30, 2020. REUTERS/Andrew Kelly
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REUTERS: U.S. data analytics firm Palantir Technologies Inc on Tuesday reported a 40per cent rise in sales in its second quarterly results since going public in September last year.

The company signed 21 contracts each worth US$5 million or more during the fourth quarter and said it expects sales in the first quarter to grow by about 45per cent year-over-year.

Known for its work with the Central Intelligence Agency and other government agencies, Palantir has been partnering with big names including Rio Tinto and International Business Machines for data offerings.

Its revenue rose to US$322.1 million in the fourth quarter ended Dec. 31 from a year earlier, the company said.

(Reporting by Akanksha Rana in Bengaluru; Editing by Arun Koyyur)

Source: Reuters