RTTNews | Aug 12, 2021 12:23PM EDT

12:22 Thursday, August 12, 2021 (RTTNews.com) - Colorado-based technology company Palantir Technologies Inc (PLTR) is trading 13% higher on Thursday after reporting its second-quarter financial results.

The net loss reported by the company was $138.58 million or $0.07 loss per share, compared to $110.45 million or $0.17 loss per share last year. On an adjusted basis, the earnings was $0.04 per share, up from $0.01 per share. Six analysts polled by Thomson Reuters expected the earnings to be $0.03 per share.

The revenue for the company also improved 49% year-over-year to $375.64 million from $251.88 million last year. Analysts estimate revenues to be $353.23 million for the quarter.

Palantir projects $385 million in revenue for the next quarter, while the Street analysts projection shows $376.40 million.

Currently, the shares are trading at $25.28, up $2.93 or 13.11% since their previous close at $22.35. the shares opened at $24.45 and in the 52-week period the shares have ranged between $8.90 and $45.00.

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