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Snowflake Third Quarter 2023 Earnings: Revenues Beat Expectations, EPS In Line

Snowflake (NYSE:SNOW) Third Quarter 2023 Results

Key Financial Results

  • Revenue: US$557.0m (up 67% from 3Q 2022).

  • Net loss: US$200.9m (loss widened by 30% from 3Q 2022).

  • US$0.63 loss per share (further deteriorated from US$0.51 loss in 3Q 2022).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Snowflake Revenues Beat Expectations

Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 10% growth forecast for the IT industry in the US.

Performance of the American IT industry.

The company's shares are down 3.8% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Snowflake that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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