Snowflake ❄️ gains 16% post market after raised guidance gives investors confidence
$Snowflake(SNOW)$This Warren Buffett stock just launched to the moon after earnings, in early June it traded around $110.
For the third-quarter, Snowflake said it sees product revenue of $500M to $505M, up between 60% and 62% year-over-year. It also expects adjusted operating margins of 2% in the third-quarter.
Snowflake also boosted its product revenue forecast for the full-year, now expected to be between $1.905B and $1.915B, a growth rate of between 67% and 68%. It also forecast an adjusted operating margin of 2% for the full-year, compared to a previous view of 1%.
Hedge fund 3G Capital exited its stake in Snowflake ❄️ in the second quarter and must be questioning why they didn't have the conviction to stay the course.
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