Snowflake (SNOW.US) Clarifies Unauthorized Executive Remarks, Reaffirms Q3 and Full-Year Revenue Guidance

Stock News

Oct 27

On Monday, Snowflake (SNOW.US) reaffirmed its revenue guidance for the third quarter and full fiscal year 2026 in a regulatory filing. This followed unauthorized remarks made by one of its executives regarding future performance in an interview. The interview was published by an Instagram account named "theschoolofhardknockz" and related platforms.

In an 8-K filing submitted afterward, Snowflake stated, "The executive was not an authorized spokesperson for financial disclosures, and the comments should not be relied upon for investment decisions." The company initially issued its revenue guidance on August 27.

Under U.S. GAAP, Q3 product revenue is projected between $1.125 billion and $1.130 billion (below the consensus estimate of $1.18 billion). For the full fiscal year 2026, product revenue is expected to reach $4.395 billion (compared to market expectations of $4.61 billion).

In pre-market trading on Monday, Snowflake's stock rose over 1%.

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