Snowflake Announced a $200 Million Deal With Anthropic, but It Wasn't Enough for Investors. Here's Why.

Despite delivering some seemingly promising quarterly updates, Snowflake fell more than 11% today.After the market closed yesterday, Snowflake (SNOW 11.45%) reported results for the third quarter of its 2026 fiscal year -- a period which ended Oct. 31. Snowflake posted non-GAAP (adjusted) earnings per share of $0.35 on sales of $1.21 billion, beating the average analyst estimate's call for per-share earnings of $0.31 on sales of $1.18 billion. Notably, the company also announced that it had entered into a n ...