Published on 25 May 2023 on Zacks via Yahoo Finance
Snowflake (SNOW) Q1 Earnings Top Estimates, Revenues Rise Y/Y
Snowflake SNOW reported first-quarter fiscal 2024 non-GAAP earnings of 15 cents per share, beating the Zacks Consensus Estimate by 200%. The company reported earnings of 3 cents in the year-ago quarter.Revenues of $623.6 million beat the consensus mark by 2.64% and jumped 47.6% year over year.
Top-Line Details
Snowflake’s product revenues accounted for 94.6% of total revenues. The figure was $590.1 million, up 49.6% year over year.Professional Services and other revenues contributed 5.4% to total revenues. The figure was $33.5 million, up 20% year over year.