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Snowflake’s Earnings Are About to Land. Expectations Took a Hit in May.

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Stock in the cloud-based data warehousing company was up 8.6% this year as of Wednesday afternoon, but down 2.3% over the past 12 months.

Shares of the cloud-based data warehousing company have risen 8.6% this year but are down 2.3% in the past 12 months.

For the fiscal second quarter, which ended in July, analysts polled by FactSet forecast non-GAAP earnings of 10 cents a share. Analysts forecast product revenue will be $626 million, with overall revenue of $662 million. Expectations for the quarter took a hit in May when the company provided a forecast for product revenue of between $620 million and $625 million. That was below expectations at the time of $649 million.

Investors will also be paying close attention to see if the company adjusts its full-year outlook, which includes product revenue of $2.6 billion and a non-GAAP operating margin of 5%.

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