3 Reasons Snowflake Stands Out to Investors
Data-cloud platform company Snowflake (NYSE: SNOW) impressed investors with its fiscal third-quarter earnings report this week. Shares of the growth stock managed to rise nearly 8% by the time the market closed Thursday -- the first trading day following the company's earnings report. Making the move even more impressive, it occurred on a day the S&P 500 declined slightly.
Here's a close look at some of the reasons why the company continues to stand out to investors following the earnings report.
First and foremost, there's Snowflake's rapid growth. After guiding for its product revenue to grow 60% to 62% year over year, the company actually grew product revenue 67% to $523 million. Total revenue was $557 million, also increasing 67% year over year.
Source Fool.com
