Snowflake Inc reports results for the quarter ended July 31 - Earnings Summary

• Snowflake Inc SNOW.N reported quarterly adjusted earnings of 35 cents​​ per share for the quarter ended July 31, higher than the same quarter last year, when the company reported EPS of 18 cents. The mean expectation of forty one analysts for the quarter was for earnings of 27 cents per share. Wall Street expected results to range from 22 cents to 32 cents per share.

• Revenue rose 31.8% to $1.14 billion from a year ago; analysts expected $1.09 billion.

• Snowflake Inc's reported EPS for the quarter was a loss of 89 cents​.

• The company reported a quarterly loss of $298.02 million.

• Snowflake Inc shares had fallen by 13.1% this quarter and gained 25.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.7% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 42 "strong buy" or "buy," 8 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the it services & consulting peer group is also "buy"

• Wall Street's median 12-month price target for Snowflake Inc is $235.00, about 14.7% above its last closing price of $200.39

This summary was machine generated from LSEG data August 27 at 11:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)