Snowflake (SNOW) shares declined Thursday after the cloud data storage provider missed profit estimates and lowered its operating margin guidance, even as sales jumped amid continued surging demand for artificial intelligence (AI) products.
Snowflake managed to slightly beat Wall Street's sales target for the first quarter of its current fiscal year. But the data-software specialist's Q1 earnings fell short of expectations.
Trends are improving at Snowflake Inc., but perhaps not enough to settle the investor debate over the controversial software stock.
Snowflake, Inc SNOW was volatile on Thursday, popping up almost 4% higher at one point before falling almost 8% from the high-of-day in reaction to the company's mixed first-quarter earnings print.
Although the revenue and EPS for Snowflake (SNOW) give a sense of how its business performed in the quarter ended April 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Revenue was better than expected, but the tech stock fell after executives said on an earnings call that growth moderated in April.
Snowflake offered mixed Q1 earnings results, but provided bullish guidance. Shares gained by about 4% in after hours on May 22, 2024.
Tech stocks looked set for a strong start to the day as Nvidia's earnings reignited the sector's rally.
Snowflake is one of the fastest-growing tech stocks out there.
Snowflake Inc. (NYSE:SNOW ) Q1 2025 Earnings Call Transcript May 22, 2024 5:00 PM ET Company Participants Jimmy Sexton - Head of IR Sridhar Ramaswamy - CEO Mike Scarpelli - CFO Christian Kleinerman - EVP of Product Conference Call Participants Keith Weiss - Morgan Stanley Mark Murphy - JPMorgan Kirk Materne - Evercore Karl Keirstead - UBS Raimo Lenschow - Barclays Brent Thill - Jefferies Matt Hedberg - RBC Brent Bracelin - Piper Sandler Tyler Radke - Citi Alex Zukin - Wolfe Research Operator Hello, everyone. Thank you for attending today's Q1 Fiscal Year 2025 Snowflake Earnings Call.
The move to acquire TruEra is expected to support Snowflake's mission to deliver end-to-end capabilities for building AI apps with data cloud.
Snowflake Inc. (SNOW) came out with quarterly earnings of $0.14 per share, missing the Zacks Consensus Estimate of $0.17 per share. This compares to earnings of $0.15 per share a year ago.