Snowflake is well positioned to beat expectations on product revenue for the latest quarter, according to some analysts, but all eyes will be on its outlook.
Snowflake Inc. is well positioned to beat expectations on product revenue for the latest quarter, according to some Wall Street analysts, but all eyes will be on the company’s outlook.
After Snowflake’s SNOW management gave an initial forecast for 47% growth in fiscal 2024 product revenue on the company’s last earnings call in late November, analysts are curious about whether the data-software company will stick with that target or adjust it given macroeconomic conditions and spending trends in the software landscape.
Revenue: The FactSet consensus calls for $576 million in quarterly revenue, up from $384 million a year before. On Estimize, the average projection is for $582 million. What else to watch for Some analysts are a bit cautious heading into the report, especially since Snowflake’s management gave an initial fiscal 2024 forecast for 47% product-revenue growth on the prior earnings call.
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