By Kelly Cloonan
Snowflake upped its full-year guidance after logging higher sales in its latest quarter as it continues to add major customers.
The cloud-software company on Wednesday said it expects full-year product revenue growth of 25% to $4.33 billion, up from previous guidance of 24% growth to $4.28 billion.
For its latest quarter, the company posted a loss of $430.1 million, or $1.29 a share, compared with a loss of $317 million, or 95 cents a share, a year earlier.
Adjusted earnings per share were 24 cents, ahead of estimates of 21 cents a share according to analysts polled by FactSet.
Quarterly revenue rose 26% to $1.04 billion. Analysts polled by FactSet expected $1.01 billion.
Higher product revenue led the increase, up 26%, to $996.8 million. Sales in its professional services segment rose 16% to $45.3 million.
The company said it now has 606 customers that generate over $1 million in product revenue per year, up from 580 as of Jan. 31, and up 27% year-over-year.
For the second quarter, Snowflake expects product revenue growth of 25% to about $1.04 billion. Analysts expect $1.02 billion.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
May 21, 2025 16:32 ET (20:32 GMT)
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