Snowflake (SNOW) Stock Plunges 27% on Disappointing Q4 Results and Guidance

Snowflake (NYSE: SNOW) share price dropped 27% after-hours following the company’s reported disappointing Q4 results and outlook.

Quarterly EPS came in at ($0.43), missing the consensus estimate of $0.02. Revenue grew 101% year-over-year to $383.8 million, compared to the consensus estimate of $372.7 million. The remaining performance obligations were $2.6 billion, which represents a 99% year-over-year increase. The company currently has 5,944 total customers and 184 customers with over $1 million in trailing 12-month product revenue.

The company expects Q1/23 revenue to range from $383 million to $388 million, compared to the consensus estimate of $410 million.

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