Snowflake Inc., known in the stock market as $SNOW, has shown a dynamic performance in its recent earnings reports:
– **Q2 FY25 Earnings (Ended July 31, 2024)**:
– Snowflake reported an adjusted earnings per share (EPS) of $0.18, surpassing the consensus estimate of $0.16. This represents a decrease from $0.22 per share a year ago.
– Revenue for the quarter was $868.82 million, beating expectations of around $849.70 million, marking a 29% year-over-year increase.
– Despite these beats, the stock experienced a drop in after-hours trading, indicating investor concerns possibly over future growth rates or other metrics like billings, which grew but perhaps not as robustly as expected or previously seen.
– **Product Revenue and Customer Growth**:
– Product revenue, a key focus for Snowflake, reached $829.3 million, showcasing strong ongoing demand for their cloud data solutions.
– The company saw a 21% year-over-year increase in total customers, reaching 10,249, with those contributing more than $1 mi
