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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 | |
|---|---|---|---|---|---|---|---|---|
| 0.44 | 0.33% | 134.36 | 135.73 | 133.55 | 133.89 | 4,878,798 | 20:50:00 |
From Jun 2023 to Jun 2024
By Ben Glickman
Snowflake posted a wider loss in the fiscal third quarter despite the company's revenue surging.
The data-cloud company posted a loss of $214.3 million, or 65 cents a share, in the quarter ended Oct. 31, compared with a loss of $200.9 million, or 63 cents a share, a year earlier. Analysts polled by FactSet expected a per-share loss of 76 cents.
Revenue rose 32% to $734.2 million, beating the $713.8 million expected by analysts polled by FactSet.
The company's product revenue rose 34% to $698.5 million in the quarter, surpassing the $669.2 million forecast by analysts and topping the company's own guidance.
Snowflake Chief Executive Frank Slootman said the surging product revenue was caused by "strong execution in a broadly stabilizing macro environment."
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
November 29, 2023 16:32 ET (21:32 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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