Snowflake shares sink 13% on decelerating product revenue growth
Publishing timestamp: 2024-08-22 12:40:18
Summary
Snowflake's shares fell after releasing fiscal second-quarter earnings showing decelerating product revenue growth. Despite beating Wall Street's estimates, the company's results were not enough to inspire investors, with analysts expressing doubts about future performance. Snowflake's new generative artificial intelligence portfolio is seen as a potential driver of growth, but for now, the company will rely on its core data warehousing business.
Sentiment: MIXED
Tickers: SNOW,
Keywords: breaking news: business, media, business news, breaking news: technology, internet, earnings, enterprise, snowflake inc., technology,
Source: https://www.cnbc.com/2024/08/22/snowflake-stock-down-on-decelerating-product-revenue-growth.html