Snowflake stock down on decelerating product revenue growth [Video]

Shares of Snowflake fell 13% on Thursday after the data cloud analytics company released fiscal second-quarter 2025 earnings that beat Wall Street’s estimates but showed decelerating product revenue growth compared to past quarters.

Snowflake reported $869 million in revenue, above the $851 million expected by analysts polled by LSEG. The company reported $829.3 million in product revenue, which accounts for most of Snowflake’s sales, up 30% year over year. But that marked a slowdown from the 34% year-over-year bump reported during the fiscal first quarter.

The company’s net loss widened to $317 million, or a 95 cent loss per share, from $227 million, or a loss of 69 cents per share, during the same period a year earlier.

Morgan Stanley analysts said Snowflake’s results were good, “but perhaps not enough.” They said the company’s smaller product revenue beat and deceleration in growth will not inspire weary investors.

The analysts think Snowflake’s new generative …