Palantir shares fell around 7% in extended trading on Monday after the defense tech firm reported weaker-than-expected guidance.
Palantir expects second-quarter revenue to fall between $649 million to $653 million, versus the $653 million expected by LSEG.
Palantir reported $105.5 million in net income for the quarter, or 4 cents per share, compared with $16.8 million, or 1 cent per share, in the year-ago quarter.
Earlier this year, Palantir signed a $178 million contract with the U.S. Army to help develop a next-generation, field-deployable sensor station.
Karp said Palantir conducted more than 660 bootcamps during the first quarter.
Persons:
Alex Karp, Palantir, Karp
Organizations:
Russell Senate, LSEG, U.S . Army
Locations:
Washington ,