Palantir falls more than 9% in pre-market trading, the second quarter guidance is slightly weaker than expected

Palantir's first quarter revenue was $634 million compared to analysts' estimated $615.8 million. Palantir has raised its annual revenue forecast from $2.680 billion to $2.690 billion, slightly above the average analyst forecast of $2.680 billion. The company has also raised its adjusted annual operating profit forecast from $680 million to $700 million (average analyst forecast is $466 million). It expects second quarter revenue to be $653 million compared to analyst forecast of $653 million, and adjusted operating profit to be $130 million compared to $90 million.