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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Snowflake Inc | NYSE:SNOW | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 1.98 | 1.25% | 159.75 | 161.375 | 157.69 | 160.55 | 3,660,234 | 01:00:00 |
From May 2023 to May 2024
By Sabela Ojea
Snowflake saw its losses widen in a latest quarter, marked by higher operating expenses and product revenue growth.
The cloud company on Wednesday posted a net loss for the fiscal second quarter ended July 31 of $226.9 million, or 69 cents a share, compared with a loss of $222.8 million, or 70 cents a share, for the year-earlier period. Analysts surveyed by FactSet had expected losses per share of 72 cents.
Operating expenses climbed to $741.0 million from $531.7 million last year.
Revenue rose 36% to $674.0 million, further boosted by its product top line performance. Analysts polled by FactSet had forecast revenue of $662.64 million.
The company now has 402 customers with trailing 12-month product revenue greater than $1 million, representing 62% growth from a year earlier.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
August 23, 2023 16:49 ET (20:49 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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