Palantir slides 12% after posting unexpected loss in the 4th quarter

<p><img src="https://static6.businessinsider.com/image/600b39af917cdb001148a36c-2400/Palantir HQ..jpg" border="0" alt="Palantir HQ." data-mce-source="Picture Alliance/Getty Images" data-mce-caption="Palantir HQ." data-link="https://www.gettyimages.com/detail/news-photo/may-2018-us-palo-alto-the-logo-of-the-data-analysis-company-news-photo/1086743976'adppopup=true"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>Shares of Palantir Technologies tumbled 12% Tuesday after the data analytics company reported a wider than expected loss for the fourth quarter.</p><p>The company posted a net loss of $148.3 million or $0.08 a share for the last quarter of 2020, though narrower than the $159.3 million or $0.29 a share loss in the same period last year. Analysts polled by FactSet had expected a loss of $0.03 a share.</p><p>Palantir, co-founded by billionaire Peter Thiel in 2003, attributed the losses to stock-based compensation ($241.8 million) and to employer payroll taxes ($18.9 million). Income from operations for the Denver-based company was $104.1 million excluding adjustments.</p><p>Revenue, however, rose by 40.4% to $322.1 million for the company, which went public in September 2020 through a direct listing. Palantir has inked numerous contracts with firms including Rio Tinto, a global mining group, California power company PG&amp;E, the US Army,&nbsp; and the Food and Drug Administration, among others.</p><p>Shares of the company have risen in recent months, driven in part by the Reddit-trading frenzy. Stock prices are up more than 30% in 2021.</p><p>For the current quarter, Palantir, expects year-over-year revenue growth of 45% and an adjusted operating margin of 23%. For the full year 2021, it sees year-over-year revenue growth of greater than 30%.</p><p><a href="https://www.businessinsider.com/palantir-stock-price-slides-after-posting-unexpected-4q-loss-2021-2#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/how-parasite-delivered-one-of-the-best-twists-in-cinema-2020-2">What makes 'Parasite' so shocking is the twist that happens in a 10-minute sequence</a></p>
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