Thursday, 22 August, 2024

Snowflake Increases Annual Product Revenue Forecast, But Margins Pressure Shares

Cloud analytics company Snowflake has raised its annual product revenue forecast, reflecting strong demand for its data services. However, despite the positive revenue outlook, the company's shares faced pressure due to unchanged operating margins, which have concerned investors. Snowflake's focus remains on scaling its operations while managing profitability, as it continues to expand its footprint in the competitive cloud computing market.