Palantir Technologies Inc. gained nearly 3% in premarket trading after raising sales forecast and announcing a $1 billion buyback.
It slightly raised its annual revenue forecast on Monday and said it would buy back shares worth up to $1 billion, banking on growing demand for its artificial intelligence platform.
Q2 revenue rose 13% to $533.3 million, which was only slightly above estimates of $532.7 million, according to Refinitiv data. Its adjusted profit per share was in-line with expectations.
Revenue growth at both government and commercial revenue slowed to 15% and 10%, respectively.
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