The American software company Snowflake, known for its cloud-based data analytics platform, presented its figures for the second quarter of fiscal year 2025 after the stock market closed on Wednesday. While the quarterly results exceeded expectations, the raised annual forecast disappointed investors and caused the stock to fall significantly.

Snowflake reported a 29 percent revenue increase to $868 million in the second quarter, exceeding analysts' expectations of $852 million. Product revenue rose to $829 million, also higher than the projected $814 million. Despite these positive developments, the company reported a net loss of $317 million, a worsening compared to the loss of $227 million in the same quarter last year. However, excluding special items, Snowflake was able to achieve a profit of $0.18 per share, more than the expected $0.16 per share.

CEO Sridhar Ramaswamy was optimistic and pointed to the company's innovative strength and the positive momentum from new AI products. "With our platform and new AI innovations, we have a huge opportunity to offer even more value to our customers," he explained.

Despite solid quarterly figures, the markets reacted negatively to the raised annual forecast. Snowflake now expects a product revenue of 3.356 billion USD for the full year, which represents a 26 percent growth compared to the previous year. This outlook disappointed many investors, as the projected growth is significantly below the average growth rates of the past quarters, which were over 42 percent.

The Snowflake stock subsequently lost 13.59 percent at times during trading on the NYSE, falling to 116.71 US dollars. Analysts like Kirk Materne from Evercore ISI expressed concern about the subdued forecast for the second half of the year, but also emphasized the company's long-term opportunities in the field of artificial intelligence.

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"Additionally, prominent investor Warren Buffett sold his entire stake in Snowflake in the second quarter of 2024. Berkshire Hathaway divested over 6.1 million shares, further shaking investor confidence.