Palantir adds more contracts in fourth quarter, revenue jumps 40%

[February 16, 2021]    (Reuters) - U.S. data analytics firm Palantir Technologies Inc on Tuesday reported a 40% rise in sales in its second quarterly results since going public in September last year.

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

The company signed 21 contracts each worth $5 million or more during the fourth quarter and said it expects sales in the first quarter to grow by about 45% 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 $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)

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