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Snowflake (SNOW) reported first quarter results that topped Wall Street estimates on both the top and bottom lines. Diluted earnings per share was $0.24 compared to the Bloomberg consensus estimate of $0.21. Revenue was $1.04 billion versus a $1.01 billion estimate. The company also raised its full-year product sales forecast.
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All right, let's get to some earnings here because Snowflake reporting first quarter earnings results and those are just crossing the wires. Let's get you those numbers. Snowflake reports Q1 adjusted diluted EPS, 24 cents. Street was at 21 cents, so that is a beat. Revenue, 1.04 billion. Street was at 1.01 billion. So that is a beat as well. Let's turn ahead in terms of what they see for the second quarter. It looks like they are looking for product revenue 1.04 billion to one, and the street was at 1.03 billion. They still see, and now, and I think this is why you're seeing the stock doing what's doing here in the after hours. They see full year product revenue, they're calling for 4.33 billion. They had seen 4.28 billion and the street was at 4.29 billion and we have the stock up nearly 7% in the after hours.
Yeah, and just to put some more details on that, revenue was, that was a 26% gain in revenue year-over-year. Uh, the company is giving a little bit of detail as to what their customers are like in terms of size. They say they have 606 customers with trailing 12-month product revenue of more than a million dollars. Um, they have 754 Forbes Global 2000 customers. So in other words, a pretty high number of large companies that are their, that are their customers here. So they're sort of emphasizing that. They have 11,000 customers overall, according to Sri Ramaswami, who is the CEO of the company. Um, and so, you know, sort of relying on those large enterprises for the growth that the company is seeing.
Yeah, lots of questions for this one. What, not just about the print, but obviously broader questions are going to come up in the call. How do they exactly think about the macro, about any potential downstream tariff impact, the competitive landscape? How could that be evolving in Snowflake's place in it?
