https://www.cnbc.com/2021/05/26/snowflake-snow-earnings-q1-2022.html
Snowflake shares fell as much as 8% in extended trading on Wednesday after the data-analytics software company barely met analysts’ expectations for product revenue, the company’s main source of total revenue, for the full fiscal year.
Here’s how the company did:
- Earnings: Loss of 70 cents per share
- Revenue: $228.9 million, vs. $212.9 million expected by analysts, according to Refinitiv.
Revenue grew 110% year over year in the fiscal first quarter, which ended on April 30, according to a statement. In the previous quarter revenue increased by 117%. The company’s net loss swelled to $203.2 million from $93.6 million.
For the full 2022 fiscal year Snowflake called for $1.020 billion to $1.035 billion in product revenue, which at the middle of the range implies 86% growth and is more than the $1.02 billion FactSet consensus.
Projected to hit $1B in revenue this FY as a 9 year old company in a space where they're directly competing with the likes of Amazon, Microsoft and Google.
FY21Q4 - Snowflake EPS misses by $0.26, beats on revenue
FY21Q3 - Snowflake EPS misses by $0.64, beats on revenue
Submitted May 26, 2021 at 07:52PM by likwitsnake https://ift.tt/3wCrb7G
