August 21, 2024: Snowflake Stock Drops Amid Revenue Growth Concerns - Despite Snowflake Inc. surpassing second-quarter earnings and revenue expectations, its stock fell over 7% after-hours. The decline is attributed to fears of potential revenue deceleration in the second half of the year. While the company reported a 29% revenue increase to $868 million and raised its full-year product revenue outlook, analysts flagged concerns over deferred revenue and stable margins. Prior to this, Snowflakes stock had dipped 11% over the past year.
