Frank Slootman, CEO, Snowflake
Snowflake stock fell as much as 7% then rebounded in extended trading on Wednesday after the data analytics software company gave full-year guidance that met but did not exceed analysts’ estimates, and announced an end to its dual-share class structure, which could allow newer investors more control over the company’s direction.
The stock had already dropped about 9% during regular trading Wednesday, amid a broad sell-off in tech stocks.
Here’s how the company did:
- Earnings: Loss of 70 cents per share
- Revenue: $190.5 million, vs. $178.5 million as expected by analysts, according to Refinitiv.
The company’s revenue increased by 117% on an annualized…