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Snowflake saw product-revenue growth slow in the latest quarter, and its shares were moving 7% lower in Wednesday’s extended session.
Shares of Snowflake
SNOW, which makes data-warehousing software, have been one of the industry’s rare bright spots this year, rising more than 70% in a period where many rival stocks got crunched on fears of artificial-intelligence disruption. But that outperformance meant “the bar was high” going into earnings, according to BNP Paribas analyst Stefan Slowinski, and he wasn’t surprised to see the stock down after Wednesday’s earnings.
