Compared to Estimates, Snowflake Inc. (SNOW) Q4 Earnings: A Look at Key Metrics

Core Insights - Snowflake Inc. reported $774.7 million in revenue for the quarter ended January 2024, marking a year-over-year increase of 31.5% and an EPS of $0.35 compared to $0.14 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $759.86 million by 1.95%, and the EPS surpassed the consensus estimate of $0.17 by 105.88% [1] Financial Performance Metrics - Remaining performance obligations stood at $5.20 billion, exceeding the four-analyst average estimate of $4.64 billion [2] - The number of customers with trailing 12-month product revenue greater than $1 million was 461, slightly below the average estimate of 476 [2] - Product revenue was reported at $738.09 million, surpassing the average estimate of $719.76 million, reflecting a year-over-year change of 32.9% [2] - Professional services and other revenue reached $36.61 million, which was below the average estimate of $37.63 million, with a year-over-year change of 8.7% [2] - Non-GAAP Gross profit for product was $576 million, exceeding the two-analyst average estimate of $524.56 million [2] Stock Performance - Shares of Snowflake Inc. have returned +13.5% over the past month, outperforming the Zacks S&P 500 composite's +4% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]