(AOF) – Snowflake presented better than expected profits and forecasts. The cloud-based data storage and analysis service specialist recorded a loss of $316.99 million in the first quarter, ending at the end of April, or -95 cents per share, compared to a loss of $225,000 per share respectively. $63 million, or -70 cents per share, a year ago. On an adjusted basis, the group generated earnings per share of 14 cents, below the consensus of 18 cents.
Revenue jumped 33% to $828.7 million compared to expectations of $786 million.
For the current quarter, Snowflake is targeting revenue between $805 million and $810 million, an increase of 26% to 27%. Wall Street targets $793 million.
© 2024 Agence Option Finance (AOF) – All reproduction rights reserved by AOF. AOF collects its data from the sources it considers the safest. However, the reader remains solely responsible for their interpretation and use of the information made available to them. The reader must therefore hold AOF and its contributors harmless from any claim resulting from this use. Agence Option Finance (AOF) is a brand of the Option Finance group
Did you like this article ? Share it with your friends using the buttons below.
This is a Smartvoice article: see legal notices