Snowflake Sees Q4 Product Revenue $716M-$721M, Up 29-30% YoY; Sees FY24 Product Revenue $2.65B, Up 37% YoY
Portfolio Pulse from Benzinga Newsdesk
Snowflake projects Q4 product revenue to be between $716M-$721M, reflecting a 29-30% increase year-over-year. For fiscal year 2024, the company anticipates product revenue to reach $2.65B, marking a 37% growth from the previous year.
November 29, 2023 | 9:08 pm
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POSITIVE IMPACT
Snowflake's guidance indicates strong growth in product revenue for Q4 and FY24, suggesting continued business expansion and positive market reception.
The positive revenue guidance provided by Snowflake is likely to instill confidence in investors about the company's growth trajectory and market position. A projected increase in product revenue is typically seen as a bullish signal for the company's stock price in the short term, as it reflects both strong demand for Snowflake's offerings and effective business scaling.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100