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Snowflake shares fell as much as 16% in extended trading on Wednesday after the data analytics software maker disappointed analysts by saying it doesn’t expect a positive adjusted operating margin for the current quarter.
Here’s how the company did:
- Earnings: Loss of 53 cents per share
- Revenue: $422.4 million, vs. $412.8 million as expected by analysts, according to Refinitiv.
The company’s revenue grew about 85% year over year in the quarter, which ended on April 30, according to a statement. In the prior quarter, revenue grew 101%. Almost all of Snowflake’s revenue comes from product revenue, which jumped by 84%, compared with 102% in the prior quarter. The figure accounts for use of…
Source cnbc.com
