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Reading: Snowflake Sinks 23% on 2023 Sales Guidance
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The Wall Street Publication > Blog > Tech > Snowflake Sinks 23% on 2023 Sales Guidance
Tech

Snowflake Sinks 23% on 2023 Sales Guidance

Editorial Board Published March 2, 2022
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Snowflake Sinks 23% on 2023 Sales Guidance
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Snowflake Inc. shares sank roughly 23% in Wednesday’s after-hours trading session after the company issued weaker-than-expected sales guidance for fiscal 2023.

For the fiscal year, the company is now expecting sales between $1.88 billion and $1.9 billion. The projected results would equate to year-over-year growth between 65% and 67%. Analysts polled by FactSet expected $2 billion in sales for fiscal 2023.

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