by Luzi Ann Santos
Snowflake shares gained more than 9% in after-market trading after the company reported revenue for the fiscal first quarter that beat the average analyst estimate.
Revenue for the quarter that ended April 30 rose 33% to $828.7 million, beating the average estimate of $786.3 million from analysts polled by Bloomberg.
Product revenue rose 34% to $789.6 million, surpassing the average estimate of $749 million, according to Bloomberg data.
Professional services and other revenue grew 17% to $39.1 million, compared with the average estimate of $36.5 million.