Snowflake’s stock plunges as outlook misses and CEO steps down

Snowflake Inc.’s stock was tumbling more than 20% in Wednesday’s extended session after the company underwhelmed with its outlook and announced that its chief executive has left that post. For the fiscal first quarter, Snowflake SNOW, -1.72%models $745 million to $750 million in product revenue, whereas analysts tracked by FactSet had been calling for $759 million. Looking at the full fiscal year, Snowflake is calling for $3.25 billion in product revenue, whereas analysts had been mo