CORRECTION: Snowflake Q1 EPS $0.14 Misses $0.18 Estimate, Sales $828.71M Beat $785.87M Estimate
Portfolio Pulse from Benzinga Newsdesk
Snowflake (NYSE:SNOW) reported Q1 earnings per share of $0.14, missing the analyst estimate of $0.18 by 22.22%. However, the company beat sales estimates with $828.71 million, a 32.89% increase from the same period last year.
May 22, 2024 | 8:09 pm
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NEUTRAL IMPACT
Snowflake's Q1 earnings per share missed estimates, but the company reported higher-than-expected sales. This mixed result may lead to short-term volatility in the stock price.
The miss on EPS could negatively impact investor sentiment, but the beat on sales and significant year-over-year growth may offset some of the negative impact. Overall, this could result in short-term volatility for SNOW's stock price.
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