(Reuters) – Snowflake forecast first-quarter product revenue below Wall Street estimates on Wednesday, on expectation that customers would cut back on spending in an uncertain economy, sending its shares down about 22% in extended trading.
The company forecast current-quarter product revenue in the range of $745 million to $750 million, below analysts’ average estimates of $765 million, according to LSEG data.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Shailesh Kuber)
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