• Q3 Revenue: $734.17 million beat estimates of $712.78 million
• Q3 EPS: 25 cents beat estimates of 16 cents

Total revenues were up 32% year-over-year, product revenue was up 34% year-over-year, remaining performance obligations were up 23% year-over-year. Snowflake said it ended the quarter with 436 customers with trailing 12-month product revenue of more than $1 million. 

Guidance: Snowflake sees fourth-quarter product revenue in a range of $716 million to $721 million, up 29% to 30% year-over-year. The company expects full-year product revenue of $2.65 billion, up 37% year-over-year.

"During Q3, product revenue grew 34% year-over-year to reach $698 million and non-GAAP adjusted free cash flow was $111 million, representing 70% year-over-year growth. These results reflect strong execution in a broadly stabilizing macro environment," said Frank Slootman, chairman and CEO of Snowflake.

Analyst Assessment:

Check This Out: These Analysts Cut Their Forecasts On Okta After Q3 Results

SNOW Price Action: Snowflake shares were up 7.63% at $188.70 at the time of publication, according to Benzinga Pro.

Photo: Joshua Woroniecki from Pixabay.