Snowflake Q2 Sales $829.300M Miss $849.704M Estimate
Portfolio Pulse from Benzinga Newsdesk
Snowflake reported Q2 sales of $829.3M, missing the analyst estimate of $849.7M by 2.4%. Despite the miss, sales increased by 23.04% compared to the same period last year.
August 21, 2024 | 8:05 pm
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NEGATIVE IMPACT
Snowflake's Q2 sales of $829.3M missed analyst estimates by 2.4%, but showed a 23.04% increase from last year. This mixed result may lead to short-term stock price volatility.
The miss on sales estimates by 2.4% is likely to negatively impact the stock price in the short term as it may disappoint investors. However, the significant year-over-year growth of 23.04% could mitigate some negative sentiment, leading to potential volatility rather than a straightforward decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100