FMP
May 23, 2024 2:34 PM - Davit Kirakosyan
Snowflake (NYSE:SNOW) kicked off the fiscal year with a strong performance, as its first-quarter revenue surpassed analyst expectations, leading to a 4% rise in its stock price in pre-market trading today.
The company reported quarterly revenue of $828.7 million, a 33% increase from the same period last year, and well above the Street estimate of $786.82 million.
Although the adjusted earnings per share (EPS) of $0.14 missed the analyst estimate of $0.18, investors were encouraged by the robust revenue growth, driven by a 34% year-over-year increase in product revenue, which reached nearly $790 million.
For the second quarter, Snowflake forecasts product revenue between $805 million and $810 million, exceeding the analysts' consensus of $785 million.
The company also revised its product revenue forecast for 2025 upward to $3.30 billion from the previous estimate of $3.25 billion. Snowflake reported a net revenue retention rate of 128%, indicating strong customer satisfaction and expanded usage. The customer base saw significant growth, with 485 customers now generating over $1 million in trailing 12-month product revenue, a 30% year-over-year increase.
Remaining performance obligations rose to $5.0 billion, a 46% year-over-year increase, suggesting strong future revenue potential. CEO Sridhar Ramaswamy credited the strong quarterly performance to the core business's strength and the growing interest in its AI products.
Jan 16, 2024 4:18 PM - Samuel Abdelshahid
In the hustle and bustle of the trading world, having a trustworthy laptop is like having a reliable partner by your side. Making well-informed decisions and staying ahead of market trends become second nature with the right device. However, the quest for a budget-friendly trading laptop t...
Jan 21, 2024 4:00 AM - Parth Sanghvi
Introduction: In the world of financial analysis, a profound grasp of essential profitability metrics is vital. This blog delves into three pivotal metrics—ROE (Return on Equity), ROA (Return on Assets), and Net Profit Margin—offering clear insights without unnecessary complexity. Exploring RO...
May 14, 2024 11:41 AM - Sanzhi Kobzhan
A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...