Palantir cuts revenue forecast, says govt contracts timing 'uncertain'

FILE PHOTO: The logo of U.S. software company Palantir Technologies is seen in Davos, Switzerland, May 22, 2022. Picture taken May 22, 2022. REUTERS/Arnd Wiegmann

(Reuters) -Palantir Technologies Inc lowered its annual revenue forecast to below market estimates after the data analytics software company reported a surprise quarterly loss on Monday, sending its shares down 15%.

The company had to temper its revenue forecast as the timing of some government contracts remained uncertain, Chief Executive Alexander Karp said, calling the uncertainty "frustrating."