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Snowflake (SNOW) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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Snowflake Inc. (SNOW - Free Report) reported $942.09 million in revenue for the quarter ended October 2024, representing a year-over-year increase of 28.3%. EPS of $0.20 for the same period compares to $0.25 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $898.77 million, representing a surprise of +4.82%. The company delivered an EPS surprise of +33.33%, with the consensus EPS estimate being $0.15.
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.
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 performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Remaining performance obligations: $5.70 billion versus the four-analyst average estimate of $5.35 billion.
Customers with trailing 12-month product revenue greater than $1 million: 542 compared to the 542 average estimate based on two analysts.
Revenue- Product revenue: $900.28 million versus the 10-analyst average estimate of $853.19 million. The reported number represents a year-over-year change of +28.9%.
Revenue- Professional services and other revenue: $41.81 million versus $40.45 million estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +17.1% change.
Non-GAAP Product Gross Profit: $686.90 million versus $637.69 million estimated by eight analysts on average.
Non-GAAP Professional Services and Other Revenue Gross Profit (Loss): $0.27 million versus the eight-analyst average estimate of $2.42 million.
GAAP Product gross profit: $636.66 million compared to the $595.25 million average estimate based on two analysts.
GAAP Professional Services and Other Revenue Gross Profit (Loss): -$15.46 million versus the two-analyst average estimate of -$12.39 million.
Shares of Snowflake have returned +12.8% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Snowflake (SNOW) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
Snowflake Inc. (SNOW - Free Report) reported $942.09 million in revenue for the quarter ended October 2024, representing a year-over-year increase of 28.3%. EPS of $0.20 for the same period compares to $0.25 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $898.77 million, representing a surprise of +4.82%. The company delivered an EPS surprise of +33.33%, with the consensus EPS estimate being $0.15.
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.
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 performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Remaining performance obligations: $5.70 billion versus the four-analyst average estimate of $5.35 billion.
- Customers with trailing 12-month product revenue greater than $1 million: 542 compared to the 542 average estimate based on two analysts.
- Revenue- Product revenue: $900.28 million versus the 10-analyst average estimate of $853.19 million. The reported number represents a year-over-year change of +28.9%.
- Revenue- Professional services and other revenue: $41.81 million versus $40.45 million estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +17.1% change.
- Non-GAAP Product Gross Profit: $686.90 million versus $637.69 million estimated by eight analysts on average.
- Non-GAAP Professional Services and Other Revenue Gross Profit (Loss): $0.27 million versus the eight-analyst average estimate of $2.42 million.
- GAAP Product gross profit: $636.66 million compared to the $595.25 million average estimate based on two analysts.
- GAAP Professional Services and Other Revenue Gross Profit (Loss): -$15.46 million versus the two-analyst average estimate of -$12.39 million.
View all Key Company Metrics for Snowflake here>>>Shares of Snowflake have returned +12.8% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.