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Snowflake (SNOW) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended April 2026, Snowflake Inc. (SNOW - Free Report) reported revenue of $1.39 billion, up 33.5% over the same period last year. EPS came in at $0.39, compared to $0.24 in the year-ago quarter.
The reported revenue represents a surprise of +5.23% over the Zacks Consensus Estimate of $1.32 billion. With the consensus EPS estimate being $0.32, the EPS surprise was +21.88%.
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 performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Remaining performance obligations: $9.21 billion versus the five-analyst average estimate of $9.49 billion.
Customers with trailing 12-month product revenue greater than $1 million: 779 versus 758 estimated by two analysts on average.
Revenue- Product revenue: $1.33 billion compared to the $1.27 billion average estimate based on 10 analysts. The reported number represents a change of +33.9% year over year.
Revenue- Professional services and other revenue: $56.62 million compared to the $56.39 million average estimate based on 10 analysts. The reported number represents a change of +25.1% year over year.
Non-GAAP product gross profit: $1 billion compared to the $949.26 million average estimate based on eight analysts.
Non-GAAP professional services and other revenue gross profit (loss): $-4.64 million versus $1.16 million estimated by five analysts on average.
GAAP product gross profit: $947.46 million versus the two-analyst average estimate of $902.91 million.
GAAP professional services and other revenue gross loss: $-21 million versus $-14.64 million estimated by two analysts on average.
Shares of Snowflake have returned +24.6% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Snowflake (SNOW) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended April 2026, Snowflake Inc. (SNOW - Free Report) reported revenue of $1.39 billion, up 33.5% over the same period last year. EPS came in at $0.39, compared to $0.24 in the year-ago quarter.
The reported revenue represents a surprise of +5.23% over the Zacks Consensus Estimate of $1.32 billion. With the consensus EPS estimate being $0.32, the EPS surprise was +21.88%.
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 performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:View all Key Company Metrics for Snowflake here>>>
Shares of Snowflake have returned +24.6% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.