By Sabela Ojea
Snowflake logged a wider fourth-quarter loss, despite seeing revenue jump from adding more top-paying customers in the period.
Shares rose 8.4% to $180.09 in post-market trading. Through Wednesday's close, the stock is up 7.6% year to date, though it has fallen 28% over the past 12 months.
The data-cloud company on Wednesday reported a loss of $327.5 million, or 99 cents a share, compared with a loss of $169.4 million, or 51 cents a share, for the same period a year earlier. Analysts polled by FactSet had forecast a per share loss of 97 cents.
Snowflake's operating expenses rose 29% to $1.04 billion, the company said.
Quarterly revenue jumped 27% to $986.8 million after seeing product revenue rise 28% to $943.3 million. Wall Street had forecast quarterly revenue of $956.9 million and product revenue of $914.5 million.
Snowflake had most recently guided for fourth-quarter product revenue between $906 million and $911 million.
The company said that it added consumers that generate over $1 million in product revenue per year. The company now has 580 customers of this kind, up from 542 customers as of Oct. 31.
For the first quarter, Snowflake expects product revenue growth of up to 22% in the range of $955 million to $960 million, falling short of analysts expectations of $961.4 million.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 26, 2025 17:00 ET (22:00 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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