Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Snowflake shares surge 7% on Q3 beat

Published 30/11/2023, 09:18 am
© Reuters.
SNOW
-

Snowflake (NYSE:SNOW) shares gained more than 7% after-hours following the company’s reported Q3 results, with EPS of $0.25 coming in better than the consensus estimate of $0.16.

Revenue grew 32% year-over-year to $734.2 million, beating the consensus estimate of $713.36M. Product revenue increased 34% year-over-year to $698.5M.

Snowflake now has 436 customers with trailing 12-month product revenue greater than $1M, and 647 customers from the Forbes Global 2000 list. These figures represent year-over-year growths of 52% and 10%, respectively.

For Q4, the company expects product revenue in the range of $716-$721M, representing a year-over-year growth of 29-30%. For the full year, product revenue is expected to be $2.65 billion, representing a 37% year-over-year growth.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.