Why Snowflake Stock Soared Today
Shares of Snowflake (NYSE: SNOW) jumped 15.9% on Thursday after the cloud-data leader delivered outstanding growth metrics in its fiscal 2022 third-quarter report.
Snowflake's revenue rocketed 110% year over year to $334.4 million. That was well above Wall Street's estimates, which had called for sales of $305.6 million.
The gains were driven in part by the company's rapid international expansion. Revenue in Snowflake's Europe, the Middle East, and Africa (EMEA) segment surged 174%, while sales in its Asia Pacific/Japan (APJ) division soared 219%.
Source Fool.com
