Week to date, shares of Snowflake (SNOW 1.23%) were down 18% through Thursday's market closing price, according to data provided by S&P Global Market Intelligence.The share price fell sharply following the company's guidance for revenue headwinds in the near term that could spell weaker growth in the next few quarters.Snowflake is wrestling with revenue headwindsManagement noted that it is difficult to assess normalized consumption trends during the holidays, but product revenue still finished the year stro ...

In this video, I will review Snowflake's (SNOW -18.14%) recent earnings report and some key points mentioned during the call, and explain why the stock crashed 20%.*Stock prices used were from the trading day of Feb. 29, 2024. The video was published on Feb. 29, 2024. ...

News of Snowflake CEO Frank Slootman's retirement sparked an 18% plunge in the company's stock price on Thursday, its steepest selloff since the data analytics software vendor debuted on the New York Stock Exchange in 2020.Slootman's departure was announced late Wednesday as part of Snowflake's quarterly earnings report, which included disappointing guidance. Analysts at Mizuho Securities wrote in a note that the stock is getting hammered "as investors digest the resignation" of Slootman, who joined in 2019 ...

Snowflake (SNOW) reported fourth-quarter fiscal 2024 non-GAAP earnings of 35 cents per share, beating the Zacks Consensus Estimate of 17 cents per share. The company reported earnings of 14 cents per share in the year-ago quarter.Revenues of $774.7 million beat the consensus mark by 1.95% and rallied 31.5% year over year. Americas, EMEA and APJ contributed 80%, 15% and 5% to revenues, respectively.In the fourth quarter, Snowflake added 83 customers, with product revenues exceeding $5 million in the trailing ...

Shares of Snowflake dropped 19% in Thursday morning trading, a day after the cloud software company announced that billionaire CEO Frank Slootman will retire and be replaced by Sridhar Ramaswamy, former Google ad chief. Slootman will remain chairman of the board.The company also reported fourth-quarter earnings results and a weaker-than-expected first-quarter outlook on Wednesday. Snowflake said its first-quarter product revenue will total between $745 million and $750 million, compared to analysts' estimat ...

Cloud platform company Snowflake (NASDAQ:SNOW) saw an avalanche of sell orders after announcing a weak 2025 outlook and the retirement of CEO Frank Slootman.Sridhar Ramaswamy will replace Slootman. He joined the company last May when Snowflake acquired his generative artificial intelligence (AI) search startup, Neeva.SNOW stock fell 22% overnight to about $179 from $230, a loss of about $17 billion in market capitalization.Snowflake’s AI OutlookAnalysts had no trouble with Snowflake’s quarterly results. The ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

Hello and welcome to the Q4 Fiscal Year 24 Snowflake Earnings Call. My name is Alex. I'll be coordinating the call today. If you'd like to ask a question at the end of the presentation, you can press star followed by one on your telephone keypad. I'll now hand over to your host, Katherine McCracken, Senior Manager, Investor Relations. Please go ahead. Good afternoon and thank you for joining us on Snowflake's Q4 Fiscal Year 2024 Earnings Call. With me in Bozeman, Montana are Sridhar Ramaswamy, our Chief Exe ...

Core Viewpoint - Snowflake's CEO Frank Slootman has stepped down immediately, raising concerns among investors despite his continued role as Chairman of the Board [1][3]. Company Leadership Transition - Slootman, a notable figure in technology, has a history of leading companies but lacks experience as a product builder or founder [2]. - Sridhar Ramaswamy, previously Senior Vice President of AI at Snowflake, will succeed Slootman, potentially bringing a fresh perspective as the company aims to expand beyond data warehousing [3]. Financial Performance - For the 12 months ending January 31, Snowflake reported total revenue of $2.8 billion, reflecting a 33% year-over-year increase, with software services revenue growing by 38% to $2.7 billion [4]. - The company ended the year with $5.2 billion in remaining performance obligations (RPO), expecting to recognize half as revenue within the next year [4]. Revenue Retention Concerns - Snowflake's net revenue retention rate (NRR) stands at 131%, but it has declined for seven consecutive quarters, indicating potential challenges in maintaining revenue [5]. Market Outlook - The global tech spending is projected to reach $6.5 trillion by 2027, with IT and software services expected to be the largest segments, which could benefit Snowflake [6]. - The increasing prominence of artificial intelligence in tech stocks is likely to accelerate spending on cloud-based products, presenting opportunities for Snowflake [6]. Investor Sentiment - Following the announcement of Slootman's resignation, Snowflake's stock fell over 20% in after-hours trading, reflecting investor apprehension about the leadership change [3]. - Investors are advised to monitor Snowflake's performance in the upcoming quarters to assess the impact of the leadership transition and the company's ability to capture a share of the AI market [7].

Snowflake Inc. (SNOW) reported $774.7 million in revenue for the quarter ended January 2024, representing a year-over-year increase of 31.5%. EPS of $0.35 for the same period compares to $0.14 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $759.86 million, representing a surprise of +1.95%. The company delivered an EPS surprise of +105.88%, with the consensus EPS estimate being $0.17.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...