Snowflake Surpasses Estimates With Total Q1 Revenue Of More Than $623M, Up 48% YoY
Portfolio Pulse from Chris Katje
Snowflake Inc (NYSE:SNOW) reported Q1 total revenue of $623.6 million, up 48% YoY, beating the Street consensus estimate of $608.4 million. Product revenue was $590.1 million, up 50% YoY. The company expects Q2 product revenue to be between $620 million and $625 million, with full fiscal year product revenue guidance of $2.6 billion.
May 24, 2023 | 8:31 pm
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Snowflake's Q1 revenue surpassed estimates, with total revenue up 48% YoY. The company expects Q2 product revenue to be between $620 million and $625 million.
Snowflake's Q1 revenue beat estimates, showing strong growth in both total and product revenue. This positive financial performance is likely to have a short-term positive impact on the stock price, as it demonstrates the company's ability to grow and meet market expectations. The guidance for Q2 and full fiscal year product revenue also indicates continued growth, which is a positive signal for investors.
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