Feb 28, 11:05 PM
Snowflake $SNOW Beats Earnings, CEO Frank Slootman Retires; Stock Plunges 20%
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Snowflake $SNOW reported earnings exceeding expectations with an EPS of $0.35 and revenue of $774.7M, beating estimates. CEO Frank Slootman retired, succeeded by Sridhar Ramaswamy. The stock plunged 20% after-hours due to weaker guidance and CEO change.
Written with ChatGPT (GPT-3).
Sources
Joseph Fahmy
Updated view of $SNOW earnings and sales via @marketsurge @IBDinvestors #IBDPartner https://t.co/b7pjEtri3M https://t.co/XzBH0tZ0Jm
Morning Brew ☕️ Snowflake shares plunged yesterday after a surprise announcement that CEO Frank Slootman was retiring The change has wiped out around $16 billion in market value so far Wild to see how much investors think a CEO is worth in real time https://t.co/5snDDVxUwQ
CNBC Tech Snowflake shares drop 19% on CEO's retirement, weak guidance https://t.co/OGaAUjgu4O
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