Snowflake shares plunge in after-hours as first-quarter loss disappoints

Snowflake shares plunge in after-hours as first-quarter loss disappoints (NYSE:SNOW)

May 25, 2022 by Seeking Alpha

Key Facts

  • Snowflake (SNOW) said that for the quarter ended April 30, it lost 53 cents a share, on revenue of $422.4 million.
  • During the same period a year ago, Snowflake (SNOW) lost 70 cents a share, on revenue of $229 million.
  • Despite its loss exceeding expectations, Snowflake (SNOW) said revenue from products rose 84% from a year ago, to $394.4 million, and it ended the quarter with remaining performance obligations of $2.6 billion, an 82% increase from the same period in 2021.
  • Snowflake (SNOW) stock fell to a 52-week-low of $125.77 a share on Tuesday, and with Wednesday's after-hours losses, in down 66% since the end of 2021.

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