By Ben Glickman

Snowflake lifted its full-year outlook for product revenue after the company's sales surged more than expected in the fiscal third quarter.

The data-cloud company expects product revenue to rise 37% to $2.65 billion in fiscal 2024, compared with previous guidance of $2.6 billion. Analysts polled by FactSet expect full-year product revenue of $2.59 billion.

Snowflake's product revenue rose 34% in the third quarter as the company's top and bottom line results outperformed analysts' expectations.

Snowflake is expecting product revenue of $716 million to $721 million in the fiscal fourth quarter, compared with the $695.6 million forecast by analysts, according to FactSet.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

November 29, 2023 16:38 ET (21:38 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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