(AOF) – Snowflake unveiled better than expected results. The cloud-based data storage and analytics service specialist recorded a loss of $226.87 million in the second quarter, which ended at the end of July, or -69 cents per share, compared to a loss of 222, $8 million, or -70 cents per share, a year ago. In adjusted data, the group generated earnings per share of 22 cents, well above the Bloomberg consensus of 10 cents.
Product revenue jumped 37% to $640.2 million from an expected $624.9 million.
For the third quarter, Snowflake is targeting sales of between $670 million and $675 million, up 28% to 29%. The market is targeting $674.9 million.
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According to the latest Truffle 100 ranking, the total turnover of the sector in France jumped by 15% last year to cross the bar of 25 billion euros. The sector benefited from an unprecedented growth rate and confirms its recovery after the health crisis. The average annual growth over fifteen years is 12 times higher than that of GDP! Dassault Systèmes retains first place with more than 5.6 billion euros in revenue last year. Cegid, specialist in software for accountants, and the fintech Murex are in second and third position with respectively 791 and 711 million euros in turnover. Polarization is one of the characteristics of the sector: the gap in turnover between the 50th and the 100th publisher has increased further in 2022 to reach nearly 28 million euros. Performances were enhanced as the profitability rate (as a percentage of sales) fell from 9.1% to 10.4%. The outlook is good as artificial intelligence, perceived as revolutionary, is expected to drive the market in 2023, along with cybersecurity.