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Apr 30, 2023
Snowflake Q1 2024 Earnings Report
Snowflake's Q1 2024 results were announced, featuring a 48% year-over-year revenue growth and a product revenue increase of 50%.
Key Takeaways
Snowflake reported strong first-quarter results, with total revenue reaching $623.6 million, a 48% increase year-over-year. Product revenue grew by 50% to $590.1 million. The company's net revenue retention rate remained high at 151%, and it increased its customer base with trailing 12-month product revenue greater than $1 million to 373.
Total revenue reached $623.6 million, representing a 48% year-over-year increase.
Product revenue grew to $590.1 million, a 50% increase year-over-year.
Net revenue retention rate was 151% as of April 30, 2023.
Remaining performance obligations (RPO) totaled $3.4 billion, a 31% year-over-year growth.
Revenue by Segment
Forward Guidance
Snowflake provided guidance for the second quarter of fiscal year 2024, projecting product revenue between $620 million and $625 million, representing a 33-34% year-over-year growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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