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8/8, 1:03 PM (Source: TeleTrader)
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Palantir reports net loss in Q2, stock plunges 14%

Palantir Technologies Inc. said on Monday its second-quarter revenue soared 26% compared to the same trimester a year ago to reach $473 million, with the commercial customer count skyrocketing 250% to 119. The company posted a $179 million net loss, with a diluted loss per share of $0.01.

For the next quarter, the company expects revenue of between $474 and $475 million and adjusted income from operations of between $54 and $55 million. Furthermore, Palantir revised down 2022 revenue to about $1.9 billion and adjusted income from operations between $341 and $343 million.

Palantir's stocks plunged over 14% in premarket trading following the earnings announcement.

Baha Breaking News (BBN) / ND