Compared to Estimates, Snowflake Inc. (SNOW) Q4 Earnings: A Look at Key Metrics
Snowflake Inc. (SNOW) reported $774.7 million in revenue for the quarter ended January 2024, representing a year-over-year increase of 31.5%. EPS of $0.35 for the same period compares to $0.14 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $759.86 million, representing a surprise of +1.95%. The company delivered an EPS surprise of +105.88%, with the consensus EPS estimate being $0.17.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Snowflake Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Remaining performance obligations: $5.20 billion versus the four-analyst average estimate of $4.64 billion.
Customers with trailing 12-month product revenue greater than $1 million: 461 compared to the 476 average estimate based on two analysts.
Revenue- Product revenue: $738.09 million compared to the $719.76 million average estimate based on eight analysts. The reported number represents a change of +32.9% year over year.
Revenue- Professional services and other revenue: $36.61 million compared to the $37.63 million average estimate based on eight analysts. The reported number represents a change of +8.7% year over year.
Non-GAAP Gross profit (loss)- Product: $576 million versus the two-analyst average estimate of $524.56 million.
View all Key Company Metrics for Snowflake Inc. here>>>
Shares of Snowflake Inc. have returned +13.5% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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