Snowflake Q3 24 – 29/11 – the last few months have seen Snowflake share price broadly trade sideways, even accounting for the fact that the business has slowly been improving quarterly revenues.
Much of the underperformance appears to have come about because in Q1 the company nudged down its full year outlook for revenues to $2.6bn.
In Q2 revenues came in at $674m which was still above forecasts, while profits came in at $0.22c a share.
For Q3 the company guided for revenue of between $670m and $675m, however this is likely to come in higher at $713m due to higher demand for cloud-based solutions.
Profits are expected to come in at 16c a share.
