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Snowflake breaks its string of guidance cuts, but stock still moves lower after earnings

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Snowflake kept its full-year forecast steady in Wednesday's earnings report.

Snowflake Inc. broke from its pattern of outlook cuts Wednesday afternoon as it kept its forecast for the full year steady, but shares of the data-software company were dipping in after-hours action.

Revenue increased to $674 million from $497 million, while analysts were looking for $662 million. Snowflake generated $640 million in product revenue.Snowflake had a net retention rate of 142% in the fiscal second quarter, compared with 151% in the fiscal first quarter.

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