By Denny Jacob

Snowflake reported a wider loss but better-than-expected revenue in the latest quarter.

The cloud-data-warehousing-software provider widened its loss to $225.6 million, or 70 cents a share, for the fiscal first quarter ended April 30, compared to a loss of $165.8 million, or 53 cents a share, a year earlier. Adjusted earnings were 15 cents a share, above analysts' estimates of 5 cents.

Revenue surged to $623.6 million from $422.4 million. Analysts polled by FactSet expected $609.4 million.

Snowflake said it had 373 customers accounted for more than $1 million in product revenue over the past 12 months.

"Given the vast universe of data Snowflake manages, it is no surprise that interest in data science, AI and machine learning is escalating while its uses are rapidly evolving," said Chief Executive Frank Slootman.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

May 24, 2023 16:29 ET (20:29 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Snowflake (NYSE:SNOW)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024 Click aqui para mais gráficos Snowflake.
Snowflake (NYSE:SNOW)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024 Click aqui para mais gráficos Snowflake.