Big data firm Palantir signals slower annual revenue growth, shares fall

FILE PHOTO: People walk by a banner featuring the logo of Palantir Technologies (PLTR) at 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/File Photo

(Reuters) - Tech billionaire Peter Thiel-backed data analytics firm Palantir Technologies Inc on Tuesday signaled revenue growth would slow this year, casting a shadow on its better-than-expected quarterly results and sending its shares down 9%.

The company forecast a revenue growth of 30% in 2021, slower than the 47% rise in 2020 when it added large government contracts, including those from the U.S. Army and Air Force.