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Data analytics group Palantir lifted its full-year outlook after a forecast-beating first quarter, although not by as much as Wall Street expected.

The company forecast full-year revenue between $2.68bn and $2.69bn, which was slightly higher than its previous estimate, but below consensus expectations for $2.71bn, according to a LSEG poll.

Its projection for revenue of $649mn to $653mn in the current quarter was below Wall Street forecasts.

However, Palantir’s forecast for adjusted income from operations for the full year exceeded Wall Street estimates. Net income of $106mn on revenue of $634mn during its first quarter edged past forecasts.

Shares in the company were last down 6 per cent.

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