Stock Track | Snowflake Soars on Strong Earnings and AI Growth Prospects

Stock Track07-26

Shares of Snowflake Inc. (NYSE:SNOW) surged over 5% in intraday trading on Monday, fueled by the company's impressive financial performance and promising growth prospects in the artificial intelligence (AI) space.

Snowflake, a leading cloud data platform provider, reported better-than-expected revenue for the first quarter of the fiscal year. The company's product revenue grew by an impressive 34% year-over-year, reaching nearly $790 million. While the adjusted earnings per share fell short of analysts' estimates, investors were encouraged by Snowflake's strong top-line growth.

Looking ahead, Snowflake raised its product revenue forecast for the fiscal year 2025 to $3.30 billion, up from the previous estimate of $3.25 billion. The company's net revenue retention rate of 128% also highlighted high levels of customer satisfaction, further bolstering investor confidence.

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(NYSE:SNOW) surged over 5% in intraday trading on Monday, fueled by the company's impressive financial performance and promising growth prospects in the artificial ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SNOW","symbol_name":"Snowflake","start_time":0,"source_url":"","article_id":"1183766602","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1183766602","pubTimestamp":1721924573,"sourceInfo":null,"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Snowflake Inc.  surged over 5% in intraday trading on Monday, fueled by the company's impressive financial performance and promising growth prospects in the artificial intelligence  space.Snowflake, a leading cloud data platform provider, reported better-than-expected revenue for the first quarter of the fiscal year. 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