“EARNINGS ALERT: AVGO, SNOW, HPE, FIVE, NTAP”
SNOW's earnings beat, raised guidance, and margin strength drove a significant positive market reaction and increased investor confidence regarding its AI positioning.
Their EPS came in at 62 cents, beating the 45 cents forecast by 38%. Revenue 1.55 billion. This is also higher than forecast. An important metric, product revenue is 1.49 billion.
This is a 37% increase over last year and is also better than forecast. Net revenue retention rate is 126%. The remaining performance obligation stands at $9 billion. This is 30% more than last year.
They had 828 customers whose product revenue in the last 12 months exceeded $1 million. This is 27% more than last year. And their total number of Forbes Global 2000 subscribers is 829.