Snowflake reports Q1 revenue up 48% YoY to $623.6M, vs. $608M est., forecasts Q2 product revenue below est., and plans to acquire startup Neeva; SNOW drops 10%+ (Annie Palmer/CNBC)

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Annie Palmer / CNBC:
Snowflake reports Q1 revenue up 48% YoY to $623.6M, vs. $608M est., forecasts Q2 product revenue below est., and plans to acquire startup Neeva; SNOW drops 10%+  —  - Snowflake beat on the top and bottom lines for the fiscal first quarter, but it gave product revenue guidance that missed consensus estimates.

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