The New York Stock Exchange welcomes Snowflake (NYSE:SNOW), on Tues. Dec twenty first, 2021, to usher within the first day of winter. To honor the event, Snowflake the bear, joined by Chris Taylor, Vice President, NYSE Listings and Services, rings The Opening Bell®.
NYSE
Shares of the cloud information platform supplier Snowflake fell greater than 5% in prolonged buying and selling on Wednesday after the corporate launched third-quarter outcomes that beat estimates however provided gentle product income steerage.
Here’s how the corporate did:
- Earnings per share: 11 cents, adjusted, vs. 4 cents anticipated by analysts, in line with Refinitiv
- Revenue: $557 million vs. $539 million anticipated by analysts, in line with Refinitiv
The firm’s income was up 67% yr over yr, however that progress was decrease than the 83% enhance final quarter. The largest a part of income, product income, additionally grew 67% yr over yr to $523 million. Product income is a key metric for Snowflake because it acknowledges income based mostly on platform consumption.
Snowflake stated it anticipates product income can be between $535 million and $540 million in its fourth quarter, in need of the $553 million anticipated by analysts estimates in line with StreetAccount. The firm expects to report between $1.919 billion and $1.924 billion for the total yr.
Product gross revenue margins, working revenue margins and adjusted free money circulate are anticipated to be 75%, 3% and 21% respectively for the total yr.
Snowflake stated it had 7,292 prospects within the quarter, which ended Oct. 31.
The firm will maintain its quarterly name with traders Wednesday at 5 p.m. ET.