Stock Groups

Snowflake (SNOW) earnings Q4 2022


CEO of Snowflake Frank Slootman arrives at the Allen & Company Sun Valley Conference on July 6, 2021, in Sun Valley, Idaho.

Kevin Dietsch | Getty Images News | Getty Images

SnowflakeExtended trading ended Wednesday at 29% after data-analytics software company reported slowing growth.

This is how it worked:

  • Earnings:A loss of 43 cents adjusted
  • Revenue:According to Refinitiv, $383.8 Million is higher than the $372.6 Million analysts expected.

According to a statement, Snowflake’s quarter ended January 31st with a 101% increase in revenue year-over-year. The following statements are from In the previous quarterGrowth reached 110%. This quarter, the company posted a loss of $132million. It was down from $199 million the year before.

Snowflake stated that it anticipates product revenue growth of 79%-81% in the fiscal quarter. It also expects 65%- 67% product growth over the 2023 fiscal years. StreetAccount analysts polled had forecasted 78% revenue growth for fiscal year one quarter. The fiscal fourth quarter saw product revenue rise by 102%.

Snowflake has not issued full-year, quarterly, or annual guidance.

Prior to the after hours move, Snowflake stock has declined 21% since the start of 2022, while the S&P 500 was down about 8% over the same period.

Analysts and executives will be discussing the results on a conference phone call that begins at 5 pm ET. ET.

This is the latest news. Keep checking back for more updates.

WATCH: The cloud lets the genie out of the bottle, says Snowflake CEO