Snowflake shares pop 14% on earnings and revenue beat
The New York Stock Exchange welcomes Snowflake to usher in the first day of winter on Dec. 21, 2021. To honor the occasion, Snowflake the Bear, joined by Chris Taylor, vice president of NYSE Listings and Services, rings the opening bell.
NYSE
Snowflake shares spiked 14% in extended trading on Wednesday, after the cloud analytics company reported third-quarter earnings that beat estimates.
Here’s how the company did, compared to LSEG analyst expectations:
- Earnings per share: 20 cents, adjusted vs. 15 cents expected
- Revenue: $942 million vs. $897 million expected
Snowflake also on Wednesday announced a multi-year partnership with Anthropic, the Amazon-backed artificial intelligence startup and OpenAI competitor.
The company’s second-quarter earnings report, released in late August, beat Wall Street’s estimates on earnings but showed decelerating growth in product revenue compared to prior quarters.