Why Palantir Stock Plunged Today
Shares of Palantir Technologies (NYSE: PLTR) fell 15.8% on Thursday after the data-analytics company posted a larger-than-expected net loss in the fourth quarter.
Palantir's revenue jumped 34% year over year to $433 million, driven by new customer additions and higher sales to existing clients. The software company continues to make progress with its plan to diversify its business.
Its rapidly expanding commercial division saw sales surge 47%, including a 132% increase in the U.S. The segment accounted for roughly 42% of Palantir's total revenue in 2021. Palantir's core government segment also enjoyed solid growth, with revenue rising 26%.
Source Fool.com
