Snowflake Lifts FY24 Product Revenue Guidance After 3Q Beat
30 November 2023 - 8:53AM
Dow Jones News
By Ben Glickman
Snowflake lifted its full-year outlook for product revenue after
the company's sales surged more than expected in the fiscal third
quarter.
The data-cloud company expects product revenue to rise 37% to
$2.65 billion in fiscal 2024, compared with previous guidance of
$2.6 billion. Analysts polled by FactSet expect full-year product
revenue of $2.59 billion.
Snowflake's product revenue rose 34% in the third quarter as the
company's top and bottom line results outperformed analysts'
expectations.
Snowflake is expecting product revenue of $716 million to $721
million in the fiscal fourth quarter, compared with the $695.6
million forecast by analysts, according to FactSet.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
November 29, 2023 16:38 ET (21:38 GMT)
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