Overview
- Revenue reached $1.21 billion versus $1.18 billion expected, with adjusted earnings of $0.35 per share beating the $0.31 consensus.
- Product revenue was $1.16 billion, up 29% year over year, as net revenue retention held at 125% and remaining performance obligations rose to $7.88 billion.
- The company ended the quarter with 688 customers generating more than $1 million in trailing 12‑month product revenue and about $1.94 billion in cash.
- For Q4, Snowflake guided product revenue to $1.195 billion to $1.20 billion, about 27% growth, and forecast a 7% adjusted operating margin versus 11% in Q3.
- Shares fell roughly 7.3% after hours to about $245.58 as the outlook overshadowed an expanded $200 million Anthropic partnership and updates with AWS and Accenture.