Snowflake Raises Annual Revenue Forecast but Faces Investor Skepticism

Despite strong Q2 results and increased guidance, Snowflake's stock fell as concerns over AI competition and security breaches loom.

Snowflake's Q2 revenue grew 29% year-over-year to $868.8 million, beating analyst estimates.
The company raised its fiscal 2025 product revenue forecast to $3.36 billion, up from $3.3 billion.
Despite the positive outlook, Snowflake's stock dropped over 8% due to investor concerns.
Security breaches involving major clients like AT&T and Ticketmaster have impacted investor confidence.
Analysts remain cautious, citing competition from rivals like Databricks and Microsoft.