The company forecast current-quarter product revenue in the range of $745 million to $750 million, below analysts' average estimates of $765 million, according to LSEG data.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Shailesh Kuber)
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5-day change | 1st Jan Change | ||
136.2 USD | -3.38% | -12.79% | -31.57% |
29/05 | Snowflake Insider Sold Shares Worth $1,029,340, According to a Recent SEC Filing | MT |
24/05 | Canaccord Genuity Adjusts Price Target on Snowflake to $215 From $230, Maintains Buy Rating | MT |
(Reuters) - Snowflake forecast first-quarter product revenue below Wall Street estimates on Wednesday, on expectation that customers would cut back on spending in an uncertain economy, sending its shares down about 22% in extended trading.
The company forecast current-quarter product revenue in the range of $745 million to $750 million, below analysts' average estimates of $765 million, according to LSEG data.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Shailesh Kuber)
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