Why is Snowflake stock plunging 8% after a Q3 earnings beat?

Snowflake stock (NYSE: SNOW) continued its plunge in the pre-market trading on Thursday, after delivering a textbook "beat-and-drop†performance on Wednesday night. The 8% pre-market drop came after the company posted its third-quarter results that comfortably topped Wall Street estimates yet failed to satisfy a market hungry for perfection. The data-cloud giant reported revenue of $1.21 billion, ahead of the $1.18 billion forecast, and beating earnings expectations with adjusted EPS of $0.35. The sell-off h ...