Snowflake Gains on Strong Outlook That Eases Software Fears | Company Business News
Summary
Snowflake shares rose sharply after the company issued a stronger-than-expected outlook. The guidance eased investor concerns that software vendors could suffer from economic slowdown and AI competition. Snowflake said product revenue will reach about $4.4 billion in the fiscal year ending in January, above analysts’ estimates. The company also reported solid quarterly product sales growth, rising bookings, and higher new customer additions. Management said demand remains healthy for core data warehousing and newer AI products.
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