For the quarter ended January 2023, Snowflake Inc. (SNOW Quick QuoteSNOW - Free Report) reported revenue of $589.01 million, up 53.5% over the same period last year. EPS came in at $0.14, compared to $0.12 in the year-ago quarter.

The reported revenue represents a surprise of +3.05% over the Zacks Consensus Estimate of $571.57 million. With the consensus EPS estimate being $0.03, the EPS surprise was +366.67%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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:

• Product Revenue: $555.33 million versus the seven-analyst average estimate of $546.35 million.
• Professional Services Revenue: $33.68 million compared to the $35.01 million average estimate based on six analysts.
• Non-GAAP Gross Profit (loss) - Professional services and other: $0.88 million compared to the $3.11 million average estimate based on six analysts.
• Non-GAAP Gross Profit (loss) - Product: $416.40 million compared to the $403.49 million average estimate based on six analysts.

View all Key Company Metrics for Snowflake Inc. here>>>

Shares of Snowflake Inc. have returned -1.3% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.