Shares of Snowflake (NYSE: SNOW) tumbled 12% on March 3 after the cloud-based data warehousing company posted its latest quarterly report.

In the fourth quarter of fiscal 2023, which ended on Jan. 31, its revenue rose 53% year over year to $589 million and beat analysts' expectations by $14 million. Its adjusted net income increased 35% to $49 million, or $0.14 per share, and cleared the consensus forecast by $0.09.

For the full year, revenue grew 69% to $2.07 billion -- decelerating from its 106% growth in fiscal 2022 -- as its adjusted net income jumped from $2 million to $90 million.

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Source Fool.com