Snowflake Inc. (SNOW - Free Report) reported $774.7 million in revenue for the quarter ended January 2024, representing a year-over-year increase of 31.5%. EPS of $0.35 for the same period compares to $0.14 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $759.86 million, representing a surprise of +1.95%. The company delivered an EPS surprise of +105.88%, with the consensus EPS estimate being $0.17.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Snowflake Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Remaining performance obligations: $5.20 billion versus the four-analyst average estimate of $4.64 billion.
- Customers with trailing 12-month product revenue greater than $1 million: 461 compared to the 476 average estimate based on two analysts.
- Revenue- Product revenue: $738.09 million compared to the $719.76 million average estimate based on eight analysts. The reported number represents a change of +32.9% year over year.
- Revenue- Professional services and other revenue: $36.61 million compared to the $37.63 million average estimate based on eight analysts. The reported number represents a change of +8.7% year over year.
- Non-GAAP Gross profit (loss)- Product: $576 million versus the two-analyst average estimate of $524.56 million.
View all Key Company Metrics for Snowflake Inc. here>>>Shares of Snowflake Inc. have returned +13.5% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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Snowflake Inc. (SNOW - Free Report) reported $774.7 million in revenue for the quarter ended January 2024, representing a year-over-year increase of 31.5%. EPS of $0.35 for the same period compares to $0.14 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $759.86 million, representing a surprise of +1.95%. The company delivered an EPS surprise of +105.88%, with the consensus EPS estimate being $0.17.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Snowflake Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Remaining performance obligations: $5.20 billion versus the four-analyst average estimate of $4.64 billion.
- Customers with trailing 12-month product revenue greater than $1 million: 461 compared to the 476 average estimate based on two analysts.
- Revenue- Product revenue: $738.09 million compared to the $719.76 million average estimate based on eight analysts. The reported number represents a change of +32.9% year over year.
- Revenue- Professional services and other revenue: $36.61 million compared to the $37.63 million average estimate based on eight analysts. The reported number represents a change of +8.7% year over year.
- Non-GAAP Gross profit (loss)- Product: $576 million versus the two-analyst average estimate of $524.56 million.
View all Key Company Metrics for Snowflake Inc. here>>>Shares of Snowflake Inc. have returned +13.5% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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