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Snowflake shares pop 19% on earnings and revenue beat

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Earnings News

Snowflake Inc.,Amazon.Com Inc,Technology

Snowflake reported better-than-expected results on the top and bottom lines.

The stock jumped in extended trading.The New York Stock Exchange welcomes Snowflake to usher in the first day of winter on Dec. 21, 2021.shares on Wednesday spiked 19% in extended trading after the data analytics software maker reported fiscal third-quarter earnings that beat estimates.20 cents, adjusted vs. 15 cents expectedSnowflake's total revenue rose 28% year over year in the quarter, which ended on Oct. 31, according to a. The company's net loss of $324.

Product revenue, at $900.3 million, represented around 96% of total revenue. Snowflake called for $3.43 billion in fiscal 2025 product revenue, implying 29% growth. That's up from the $3.36 billion forecast management gaveThe full-year view also includes an adjusted operating margin of 5%, up from the 3% guidance in August.

Snowflake had 10,618 customers at the end of October, having added 369 in the fiscal third quarter. Analysts polled by StreetAccount had expected 10,601.

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