(Bloomberg) — Palantir Technologies Inc. shares fell the most in almost a year after the data software company reported financial results that illustrated a continued lack of net profit.
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The stock declined as much as 14% in intraday trading Thursday. Palantir shares have lost about half their value over the past 12 months.
The net loss was 8 cents a share in the fourth quarter. Adjusted earnings were 2 cents a share, short of analysts’ expectations. Net income is “within eyesight,” Chief Executive Officer Alex Karp assured analysts in a conference call, but he didn’t provide a date.
Pandemic-related restrictions are hampering the business, particularly in Europe. The region needs “to reopen,” Palantir Chief Operating Officer Shyam Sankar said in an interview with Bloomberg. “We need to work on Europe,” he said.
The number of business customers…
