Snowflake
2024 - 2 - 29Snowflake Snowballs: CEO Changes, Revenue Surprises, and Stock Plunges
CEO retirement - Snowflake - Stock market - Tech earningsSnowflake's rollercoaster ride with CEO shake-ups, revenue surprises, and stock plunges is keeping investors on edge. Dive into the latest updates!
Snowflake, a data warehouse-as-a-service company, made waves in the financial world recently. In the fourth quarter, Snowflake's revenue soared to $774.7 million, exceeding expectations by 32%. However, their forecast for weak first-quarter product revenue caused shares to slump, leading to a tumultuous period for the company.
The announcement of CEO Frank Slootman's retirement further shook up Snowflake's trajectory, with the stock plunging in response. Slootman, known for his leadership since 2019, will be succeeded by Sridhar Ramaswamy, a former Google executive. This change in leadership, coupled with the fluctuating revenue forecasts, contributed to the significant drop in Snowflake's stock value.
As investors digested the news, Snowflake's stock plummeted by over 20% after the appointment of the new CEO and the issuance of updated revenue guidance. The market reacted strongly to these developments, reflecting uncertainty and potential challenges ahead for the cloud-data company. Despite challenges, Snowflake remains a prominent player in the tech industry, with its performance closely watched by investors and analysts.
Although Snowflake's recent journey has been tumultuous, the company's innovative approach to cloud-based data solutions continues to attract attention in the market. With a new CEO at the helm, Snowflake is poised for a period of transition and adaptation as it navigates changing market dynamics. Investors are eagerly anticipating how the company will weather the storm and emerge stronger from recent setbacks.
Snowflake (SNOW) Earnings Surpass Estimates with 4Q Revenue ... (Smartkarma)
Snowflake's 4th quarter revenue was $774.7 million, a 32% increase year over year, surpassing the estimated $760.4 million. The product revenue was $738.1 ...
Snowflake forecasts weak first-quarter product revenue, shares slump (Reuters India)
Snowflake forecast first-quarter product revenue below Wall Street estimates on Wednesday on expectations that customers would cut back on spending in an ...
Snowflake says Frank Slootman is retiring as CEO, stock plunges ... (CNBC)
The stock dropped in extended trading. Snowflake said product revenue in the first quarter will be between $745 million and $750 million, lower than the $759 ...
Snowflake Stock Plunges After Company Names New CEO, Issues ... (Investopedia)
Snowflake shares dropped more than 20% in after-hours trading Wednesday after the company named a new chief executive officer and issued revenue guidance ...
Stock Market News, Feb. 28, 2024: Nasdaq Leads Indexes Lower ... (The Wall Street Journal)
Snowflake shares fell 20% in extended-hours trading after the cloud-data company provided a weak sales outlook for the current year and said Frank Slootman ...
Snowflake Shares Plummet Over 20% After Billionaire CEO Frank ... (Forbes)
Slootman joined the company in 2019 and took it public in 2020 with the largest software IPO ever.
Tech Earnings: Salesforce, C3.ai, Snowflake, and Others Report ... (Barron's)
Snowflake stock has been on a tear, driven by hopes the cloud-based data warehouse software company will benefit from the generative artificial intelligence ...
Tech Earnings: Salesforce, C3.ai, Snowflake, and Others Report ... (Barron's)
Snowflake shares are down sharply in late trading Wednesday after the cloud-based data warehouse software company posted solid results for the January ...
What Snowflake's CEO Shake-Up Means (The Information)
Snowflake CEO Frank Slootman is retiring, to be succeeded by Sridhar Ramaswamy, a former longtime Google executive who joined Snowflake last year through the ...
Snowflake (NYSE:SNOW) Surprises With Q4 Sales But Stock Drops ... (Yahoo Finance)
Data warehouse-as-a-service Snowflake (NYSE:SNOW) beat analysts' expectations in Q4 FY2024, with revenue up 31.5% year on year to $774.7 million.
Tech Earnings: Salesforce, C3.ai, Snowflake, and Others Report ... (Barron's)
On a Wednesday afternoon stuffed with tech earnings news, the biggest surprise was Snowflake's announcement that CEO Frank Slootman had decided to retire, ...
Tech Earnings: Salesforce, C3.ai, Snowflake, and Others Report (Barron's)
Artificial intelligence has fueled the stock market's rally. Earnings from Salesforce, C3.ai, Snowflake, and other tech names will be closely watched.
Snowflake shares sink on weak forecast, surprise CEO retirement (Yahoo Movies)
Snowflake expects product revenue of $3.25 billion in fiscal year 2025, and between $745 million and $750 million for the quarter ending April, ...
Snowflake Shares Plunge On Weak Sales Outlook Amid CEO Change (Investor's Business Daily)
SNOW stock plunged after software maker Snowflake reported Q4 earnings that topped estimates but sales guidance for fiscal 2025 missed.
Snowflake shares sink on weak forecast, surprise CEO retirement (Reuters India)
Snowflake shares slid 23% on Thursday after the cloud data storage services provider projected annual revenue below Wall Street estimates and disclosed a ...
Snowflake's stock heads for worst day ever - and could stay in the ... (Morningstar.com)
By Emily Bary. Snowflake's CEO retirement, weak forecast weigh on shares and could help erase $17 billion in market cap. For a chief executive, ...
Snowflake CEO Slootman steps down, Ramaswamy takes over (TechTarget)
Snowflake CEO Frank Slootman has resigned after five years guiding the data cloud vendor during which the company went public in a record-setting IPO.
Snowflake (SNOW) Q4 2024 Earnings Call Transcript (Motley Fool)
SNOW earnings call for the period ending December 31, 2023. Logo of jester cap with thought bubble. Image source: The Motley Fool. Snowflake (SNOW - ...
Snowflake shares drop 19% on CEO's retirement, weak guidance (CNBC)
Shares of Snowflake dropped 19% in Thursday morning trading, a day after the cloud software company announced that billionaire CEO Frank Slootman will ...
Why Snowflake Stock Is Plummeting Today (Motley Fool)
Fiscal Q4 profits and sales crushed analysts' expectations. Snowflake announced that CEO Frank Slootman had retired. Management's guidance for the current ...
Snowflake Inc. (NYSE:SNOW) Q4 2024 Earnings Call Transcript (Yahoo Finance)
Snowflake Inc. (NYSE:SNOW) Q4 2024 Earnings Call Transcript February 28, 2024 Snowflake Inc. beats earnings expectations. Reported EPS is $0.35, ...
Snowflake's New CEO: 5 Things To Know From Google To AI (CRN)
Cloud AI firm Snowflake's new CEO Sridhar Ramaswamy will drive generative AI as Frank Slootman retires. The company's stock dropped on the news.
Snowflake Earnings: Revenue Outlook Disappoints; New CEO ... (Morningstar.com)
Combined with the surprise retirement of CEO Frank Slootman, this created a challenging quarter. Slootman will be replaced by Sridhar Ramaswamy, who has only ...
Why Snowflake (SNOW) Stock Is Trading Lower Today (Yahoo Finance)
Shares of data warehouse-as-a-service Snowflake (NYSE:SNOW) fell 24.9% in the morning session after the company reported fourth-quarter results and provided ...
Snowflake details next stage of AI data strategy as new CEO takes ... (CIO Dive)
Sridhar Ramaswamy took over as Snowflake's CEO Wednesday, succeeding Frank Slootman who announced his retirement. Slootman, who was named CEO in 2019, will ...
Is Snowflake Stock a Buy After the Earnings Crash? (Nasdaq)
In this video, I will review Snowflake's (NYSE: SNOW) recent earnings report and some key points mentioned during the call, and explain why the stock ...
Snowflake (SNOW) Q4 Earnings Top Estimates, Revenues Up Y/Y (Yahoo Finance)
Snowflake's (SNOW) fourth-quarter fiscal 2024 results reflect continuing growth in product revenues, driven by customer-base expansion.
Stock Market Today: Nasdaq Closes at Record High; AMD ... (The Wall Street Journal)
Frank Slootman certainly fit that category. Prior to taking Snowflake public in 2020, he had done the same for ServiceNow in 2012 and Data Domain in 2007. Both ...
Snowflake's Stock Tanked After Its CEO Resigned. The Selloff Is ... (Barron's)
The charts indicate that biotech stocks still have a long way to rise after their October 2023 low.
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