Snowflake Inc Class A, revenue increased by 28% in the August-October period, with the stock price sharply rising after hours.

2024/11/21 08:12

Snowflake Inc Class A, a company specializing in cloud-based data warehousing, reported a 28% revenue growth in the fiscal quarter of August to October 2024. While the losses widened, the company's stock in after-hours trading on the 20th is trading around $152.75, an 18.3% increase from the regular trading closing price.
The profit and loss for the October to December period showed a loss of $302.4 million (compared to a loss of $214.3 million in the same period last year). Earnings per share were a loss of $0.98 ($0.65 loss for the same period). Analysts' estimates compiled by FactSet were a loss of $0.97 per share.
Revenue increased by 28% year-on-year to $942.1 million, exceeding analysts' financial estimates of $899.3 million.
Product revenue reached $900.3 million, surpassing analysts' financial estimates of $848.5 million.
Product revenue for the period from November 24 to January 25 of the 24th year is expected to be between $906 million and $911 million, a 23% increase. Analysts' financial estimates are $881.7 million.