{"id":330302,"date":"2021-08-25T23:36:00","date_gmt":"2021-08-25T20:36:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/snowflake-stock-falls-after-earnings-miss\/"},"modified":"2021-08-25T23:36:00","modified_gmt":"2021-08-25T20:36:00","slug":"snowflake-stock-falls-after-earnings-miss","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/snowflake-stock-falls-after-earnings-miss\/","title":{"rendered":"#: Snowflake stock falls after earnings miss"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6aedbe0d57603\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6aedbe0d57603\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/snowflake-stock-falls-after-earnings-miss\/#Database-software_company_more_than_doubled_sales_and_beats_revenue_consensus_but_shares_decline_in_late_trading\" >Database-software company more than doubled sales and beats revenue consensus, but shares decline in late trading<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/snowflake-stock-falls-after-earnings-miss\/#Jeremy_C_Owens\" >Jeremy C. Owens<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#: Snowflake stock falls after earnings miss<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Database-software_company_more_than_doubled_sales_and_beats_revenue_consensus_but_shares_decline_in_late_trading\"><\/span>\n  Database-software company more than doubled sales and beats revenue consensus, but shares decline in late trading<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000387291\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000387291\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Snowflake Inc. shares declined in after-hours trading Wednesday, after the software company reported a wider loss than expected even as sales more than doubled.<\/p>\n<p> Snowflake<br \/>\n        SNOW,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/220991541\/composite\" class=\"positive\">+0.85%<\/bg-quote><br \/>\n       reported second-quarter losses of $189.7 million, or 64 cents a share, after losing $77.6 million a year ago. Revenue totaled $272.2 million, more than doubling from $133.1 million in the same quarter a year prior.<\/p>\n<div class=\"paywall\">\n       Analysts on average expected a loss of 15 cents a share on sales of $256.1 million, according to FactSet. Shares fell about 3% in after-hours trading following the release of the report, after closing with 0.9% gain at $283.76.<\/p>\n<p>Snowflake is a database-software company that focuses on the cloud, looking to take the core business of Oracle Corp.<br \/>\n        ORCL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202180826\/composite\" class=\"positive\">+0.08%<\/bg-quote><br \/>\n       to new places. Because it is a young software company, investors tend to focus on other metrics besides profitability, including net revenue-retention rate, which measures how much existing customers are spending on the volume-priced offering, and remaining performance obligations, which measures the amount of spending that has been agreed to under contracts but not realized yet.<\/p>\n<p><strong>For more: Five things to know about Snowflake<\/strong><\/p>\n<p>Snowflake reported a net revenue-retention rate of 169% as of the end of the quarter on July 31, and a remaining performance obligation of $1.5 billion, up 122% from last year. Snowflake also reported that the number of customers rose to 4,990 from 3,117 a year ago, and 116 of those customers have spent more than $1 million with the company in the past 12 months.<\/p>\n<p>\u201cSnowflake saw continued momentum in Q2 with <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>le-digit growth in product revenue, reflecting strength in customer consumption,\u201d Chief Executive Frank Slootman said in a statement.<\/p>\n<p>Snowflake projected product revenue of $280 million to $285 million for the fiscal third quarter, and stated a full-year target of $1.06 to $1.07 billion for the slice of its sales. Analysts on average were expecting third-quarter product revenue of $272 million and annual product revenue of $1.02 billion heading into the report, according to FactSet.<\/p>\n<p>Snowflake stock has slowed down after a big beginning on Wall Street, gaining just 0.8% in 2021 as the S&amp;P 500 index<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"positive\">+0.22%<\/bg-quote><br \/>\n       has increased 19.4%, but is still trading for more than double the $120 price charged in its initial public offering.  <\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Jeremy C. Owens\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/jeremy-owens\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/jowens510\",\"text\":\"@jowens510\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:jowens@marketwatch.com\",\"text\":\"jowens@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Jeremy_C_Owens\"><\/span>Jeremy C. Owens<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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Snowflake SNOW, +0.85% reported second-quarter losses of $189.7&#8230;<\/p>\n","protected":false},"author":1,"featured_media":330303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-330302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/330302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=330302"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/330302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/330303"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=330302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=330302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=330302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}