Palantir adds more contracts in fourth quarter, revenue jumps 40%

U.S. data analytics firm Palantir Technologies Inc on Tuesday reported a 40% rise in sales in its second quarterly results since going public in September last year.

The company signed 21 contracts each worth $5 million or more during the fourth quarter and said it expects sales in the first quarter to grow by about 45% year-over-year. Known for its work with the Central Intelligence Agency and other government agencies, Palantir has been partnering with big names including Rio Tinto and International Business Machines for data offerings.

Its revenue rose to $322.1 million in the fourth quarter ended Dec. 31 from a year earlier, the company said.