Snowflake reduces revenue growth target, and the stock is falling

Earnings Results Last Updated: March 1, 2023 at 7:44 p.m. ET First Published: March 1, 2023 at 4:17 p.m. ET ‘Change in existing customer purchasing behavior’ leads to decrease for Snowflake’s new product revenue forecast, shares dive 7% in extended session Snowflake shares are down about 40% over a 12-month span. NYSE This update corrects

Financial Press

Published

March 2, 2023

snowflake-reduces-revenue-growth-target,-and-the-stock-is-falling

Earnings Results

Last Updated: March 1, 2023 at 7:44 p.m. ET First Published: March 1, 2023 at 4:17 p.m. ET

‘Change in existing customer purchasing behavior’ leads to decrease for Snowflake’s new product revenue forecast, shares dive 7% in extended session

Snowflake shares are down about 40% over a 12-month span.

NYSE

This update corrects the FactSet consensus for Snowflake’s fiscal first-quarter and fiscal 2024 product revenue.

Shares of Snowflake Inc. fell more than 7% in after-hours trading Wednesday after the data-software company forecast lower revenue growth than analysts had anticipated.

Snowflake’s SNOWmanagement…

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