Snowflake stock rockets after earnings beat and $6 billion Amazon cloud deal

The cloud data company reported $1.39 billion in first-quarter revenue, up 33% year over year, and lifted its full-year product revenue guidance to $5.84 billion

Screenshot: Snowflake $SNOW

Snowflake $SNOW reported first-quarter revenue of $1.39 billion, up 33% from a year earlier, and announced a $6 billion, five-year spending commitment to Amazon $AMZN Web Services on Wednesday, sending Snowflake stock sharply higher in after-hours trading.

Product revenue, the company's primary metric, reached $1.33 billion, a 34% year-over-year increase that Snowflake said represented the strongest sequential dollar growth in its history. The Wall Street consensus,........

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