Stock Market News

Snowflake raises annual product revenue forecast

11/20/2024

Less than a minute

2024.11.20 16:15

(Reuters) – Snowflake (NYSE:) raised its annual product revenue forecast on Wednesday, betting on robust demand for its data cloud and analytics platform as an easing economy allows clients to free up their budget for spending on technology.

© Reuters. FILE PHOTO: The company logo for Snowflake Inc. is displayed on a banner to celebrate the company's IPO at the New York Stock Exchange (NYSE) in New York, U.S., September 16, 2020. REUTERS/Brendan McDermid/File Photo

The company now expects 2025 product revenue of $3.43 billion, compared with $3.36 billion it previously forecast.

Shares of the company jumped around 14% in extended trading.

11/20/2024

Less than a minute

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