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Benzinga
Benzinga
Business
Henry Khederian

Why Snowflake Shares Are Falling

Snowflake SNOW NYSE Snowflake Inc

Snowflake Inc (NYSE:SNOW) shares are trading lower by 18.8% at $215.00 after the company reported fourth-quarter earnings results and issued first-quarter and FY23 product sales guidance.

Snowflake reported quarterly losses of 43 cents per share. Snowflake also reported quarterly sales of $383.77 million which beat the analyst consensus estimate of $372.59 million by 3%. This sales figure represents a 101% increase over sales of $190.47 million the same period last year.

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