|Day's Range||14.90 - 15.18|
The data warehousing specialist had long been among the fastest growers in cloud computing, but its first-quarter earnings report shows that it can't escape the broader challenges in the sector. Snowflake offered disappointing guidance in its first-quarter earnings report, sending the stock down 17% on the news as the company forecast a significant decline in revenue growth over the remainder of the year. Product revenue in the first quarter grew 50% to $590.1 million, and overall revenue rose 48% to $623.6 million, which topped estimates at $608.4 million.
Dispiriting guidance and bearish analyst changes pushed the company's share price down over the past few trading days.
Growth is slowing. But that doesn't mean the data cloud specialist's growth rates aren't still high.
Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades for Snowflake, MongoDB , Digital Turbine, and Annexon. Snowflake (NYSE:SNOW) was downgraded at two Wall Street firms after reporting its Q1 earnings, resulting in a share price drop of more than 16% yesterday, as InvestingPro reported in real-time. While Q1 results came in better than expected, the company’s outlook disappointed investors.
(Bloomberg) -- Snowflake Inc.’s stock had its worst day ever after the company gave a quarterly sales outlook that fell short of expectations, suggesting that customers have continued trimming their spending for cloud software amid uncertain economic conditions. Most Read from BloombergBiden, McCarthy Forge Debt-Limit Deal in Bid to Avert US DefaultWorld’s Richest Man Throws In Towel on Beverly Hills HotelKey Takeaways From Deal Biden, GOP Sealed to Avert US DefaultTexas AG Ken Paxton Impeached
Snowflake (NYSE: SNOW) dropped over 15% after its recent earnings report, and the stock is down over 60% from its all-time highs and over 38% since its first day of trading after its IPO in September of 2020.
Snowflake's (SNOW) first-quarter fiscal 2024 results reflect growth in product revenues and customer-base expansion amid higher expenses.
The company also took this opportunity to go all-in on artificial intelligence (AI). In a digital nutshell, Snowflake is doing business as usual despite a challenging economy, and the company is making a sharp turn into an explosive AI opportunity. As usual (more on the repeatable trend in a moment), Snowflake delivered financial results above the top end of management's guidance.
Shares of cloud-based data software company Snowflake (NYSE: SNOW) sank on Thursday after the company announced financial results for the fiscal first quarter of 2024 and lowered its forward guidance. In Q1, which ended in April, Snowflake generated product revenue of $590 million, up 50% year over year. In light of April's slowdown, Snowflake's management lowered its full-year revenue guidance.
The Yahoo Finance Live team reports on the decline of Snowflake shares on cloud demand warnings and the company's full-year outlook amid the economic slowdown.
Q1 2024 Snowflake Inc. Earnings Call
Investing.com -- Stocks in focus in premarket trade on Thursday, May 25th. Please refresh for updates.
With me in Bozeman, Montana are Frank Slootman, our chairman and chief executive officer; Mike Scarpelli, our chief financial officer; and Christian Kleinerman, our senior vice president of product, who will join us for the Q&A session. During today's call, we will make forward-looking statements, including statements related to the expected performance of our business, future financial results, strategy, products and features, long-term growth, our stock repurchase program, and overall future prospects.
Earnings results after the close of regular trading on Wednesday showed widely different responses from investors.
Although the revenue and EPS for Snowflake Inc. (SNOW) give a sense of how its business performed in the quarter ended April 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Snowflake Inc. (SNOW) delivered earnings and revenue surprises of 200% and 2.64%, respectively, for the quarter ended April 2023. Do the numbers hold clues to what lies ahead for the stock?
Yahoo Finance Live's Seana Smith looks at several stocks trending in the after-hours trading session.
No-Headquarters/BOZEMAN, Mont., May 24, 2023--Snowflake (NYSE: SNOW), the Data Cloud company, today announced the appointment of Steve B. Burke to its Board of Directors, effective immediately. John McMahon will step down from the Snowflake board after the company’s annual meeting on July 5. Snowflake thanks Mr. McMahon for his 10 years of service on the Board.
No-Headquarters/BOZEMAN, Mont., May 24, 2023--Snowflake (NYSE: SNOW), the Data Cloud company, today announced financial results for its first quarter of fiscal 2024, ended April 30, 2023.
Investing.com - U.S. stock futures were trading higher during Wednesday's evening trade, after major averages finished the regular session lower as minutes released Wednesday from the Federal Reserve’s latest meeting showed division among policymakers as to the future path of interest rates.
Investing in quality growth stocks such as Nuvei can help investors turn a $50,000 investment into $1 million within a decade. The post Want $1 Million for Retirement? Invest $50,000 in These 2 Stocks and Wait a Decade appeared first on The Motley Fool Canada.
The data storage and analysis specialist generated impressive gains thus far in 2023. Could this be just the beginning?
Tech innovators Nvidia (NVDA) and Snowflake's (SNOW) quarterly results on May 24 will highlight this week's earnings lineup.
Investing.com -- Stocks weakened as the debt ceiling negotiations dragged on with seemingly no end in sight on Tuesday.
Warren Buffett is broadly considered to be history's best value investor. After acquiring a controlling stake in Berkshire Hathaway at a price of $18 per share in May 1965, the Oracle of Omaha used what had been a struggling textiles business as the foundation and namesake for what would become the world's most successful investment conglomerates. Today, a single share of Berkshire's Class A stock trades at more than $500,000 per share.