Snowflake reports Q1 revenue up 48% YoY to $623.6M, vs. $608M est., forecasts Q2 product revenue below est., and plans to acquire startup Neeva; SNOW drops 10%+ (Annie Palmer/CNBC) 24-05-2023

Annie Palmer / CNBC:
Snowflake reports Q1 revenue up 48% YoY to $623.6M, vs. $608M est., forecasts Q2 product revenue below est., and plans to acquire startup Neeva; SNOW drops 10%+ — – Snowflake beat on the top and bottom lines for the fiscal first quarter, but it gave product revenue guidance that missed consensus estimates.