Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Shares of data integration and software firm Palantir Inc (NYSE: PLTR) have plummeted premarket on Tuesday after the company reported its Q1 earnings showing a widening net loss.
The company reported a net loss of $123.4 million or -$0.07 per share compared to a loss of $54 million or -$0.10 the previous year. The adjusted EPS came in at $0.04 per share.
Revenue for the period rose, beating analyst expectations, coming in at $341 million compared to $229 million in Q1 2020.
Looking ahead, the company expects Q2 revenue to be $360 million, again above analyst expectations and representing year over year growth of 43%.
They also expect annual revenue growth of 30% for 2021 through to 2025.
Palantir's stock price is down 10.45% premarket at $16.54 after a 6.48% fall on Monday. So far in May, Palantir's share price has tumbled over 20%.
Tech stocks offer some of the best growth potential, but time and time again, traders and investors ask us “what are the best tech stocks to buy?” You've probably seen shares of companies such as Amazon and Netflix achieve monumental rises in the past few years, but there are still several tech stocks with room for significant gains. Here is our analysts view on the best tech stocks to buy right now
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