SNOW collapses 12% afterhours as guidance underwhelms

Share: Snowflake beats Wall Street expectations for Q1 by a mile. Full-year guidance, though, was much less impressive. Management expects 2023 revenue at $110 million below prior forecasts. SNOW stock fell back to the 200-day moving average. Snowflake (SNOW) stock dropped more than 12% post-market on Wednesday after the data platform produced full-year revenue guidance more than $100 million below prior consensus. Despite a solid beat on the top and bottom lines in the first quarter, traders sold off shares of SNOW from $177 to around $155.  Snowflake earnings news Snowflake reported Q1 adjusted EPS of $0.15, 10