Snowflake Q2 Earnings Beat, Revenue Jumps 36%, Company 'Well Positioned' To Deliver Data For AI Boom
Portfolio Pulse from Adam Eckert
Snowflake Inc's Q2 earnings beat expectations with a 36% YoY increase in revenue to $674.02 million, surpassing the consensus estimate of $662.24 million. The company reported earnings of 25 cents per share, beating analyst estimates of 10 cents per share. Despite the positive results, Snowflake's shares fell in after-hours trading. The company is optimistic about its positioning to deliver data for the AI boom.
August 23, 2023 | 8:20 pm
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Snowflake's Q2 earnings beat estimates, but its shares fell in after-hours trading. The company is optimistic about its future in the AI sector.
Despite beating earnings estimates, Snowflake's shares fell, indicating a negative short-term impact. However, the company's positive outlook on its role in the AI sector could potentially drive long-term growth.
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