Reported about 2 months ago
Snowflake has raised its forecast for annual product revenue to $3.36 billion for fiscal 2025, up from $3.30 billion, driven by increased client interest in its AI-enhanced cloud platform. However, shares dropped over 8% due to unchanged margin projections, as the company awaits GPU deployments and addresses previous security breaches. Despite a data breach earlier this year, customer consumption was not affected, highlighting strong demand for Snowflake's services.
Source: YAHOO