Snowflake Falls on Mixed Q3 Results

Shares of cloud company Snowflake  (SNOW) – Get Report dropped in after-hours trading Wednesday after the company reported third-quarter revenue that topped estimates, but missed with a wider net loss than expected. 

Snowflake reported third-quarter revenue of $159.6 million, representing year over year growth of 115%, analysts were expecting revenue of $147.52 million. 

The company also reported a net loss of $1.01 per share. Analysts expected a third-quarter net loss of 26 cents per share. 

For the fourth quarter, the company expects product revenue between $162 million and $167 million. 

Source link

Add a Comment