SNOW - Why Snowflake Stock Is Falling Today
2024-05-23 15:13:09 ET
Snowflake (NYSE: SNOW) stock is losing ground in Thursday's trading. The company's share price was down 5.8% as of 3 p.m. ET, according to data from S&P Global Market Intelligence .
After the market closed on Wednesday, Snowflake published the results for the first quarter of its 2025 fiscal year, which ended April 30. While the company's sales came in ahead of the market's expectations, earnings for the period were lower than Wall Street had anticipated.
Snowflake posted non-GAAP (generally accepted accounting principles) adjusted earnings per share of $0.14 on revenue of $828.71 million in fiscal Q1. Meanwhile, the average analyst estimate had called for the business to post adjusted per-share earnings of $0.17 on revenue of roughly $828.75 million.
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Why Snowflake Stock Is Falling Today