Snowflake Stock Drops 14% Amid Concerns Over Decelerating Product Revenue Growth
Sectors & Industries
August 26, 2024
Snowflake shares dropped over -14% following its fiscal Q2 2025 earnings release, despite exceeding revenue estimates with $869 million.
Product revenue, the bulk of sales, rose 30% year-over-year to $829 million, marking a slowdown from prior growth rates.
Analysts from Morgan Stanley and Barclays noted the decelerating product revenue growth, highlighting it as a potential concern for investors as the company is yet to make a profit.
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