FMP

FMP

Enter

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

Snowflake Shares Climb 4% on Q1 Revenue Beat

-

twitterlinkedinfacebook
blog post cover photo

Image credit: FMP

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.

Other Blogs

Nov 25, 2023 6:39 AM - Parth Sanghvi

DCF Valuation vs. Comparable Companies Analysis: Choosing the Right Valuation Method

Choosing the Right Valuation Method: DCF vs. Comparable Companies Analysis Introduction: Valuation methods play a pivotal role in determining the fair value of a company, aiding investors in making informed investment decisions. Two commonly used methods, DCF Valuation and Comparable Companies A...

blog post title

Dec 23, 2023 2:19 AM - Parth Sanghvi

Understanding the Limitations of DCF Analysis: A Guide to Overcoming Challenges

Introduction: Discounted Cash Flow (DCF) analysis stands as a cornerstone in valuing investments, yet its efficacy is contingent upon various assumptions and methodologies. While a powerful tool, DCF analysis comes with inherent limitations and challenges that investors must acknowledge to make i...

blog post title

Dec 25, 2023 2:28 AM - Parth Sanghvi

Integrating Sustainability into Valuations: Navigating ESG Factors within the Discounted Cash Flow (DCF) Model

Introduction: The investment landscape is undergoing a profound shift with a heightened emphasis on sustainability and responsible investing. In this blog post, we explore the intersection of Environmental, Social, and Governance (ESG) considerations within the Discounted Cash Flow (DCF) model, h...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedinfacebookinstagram
2017-2024 © Financial Modeling Prep