Snowflake Projects Strong Sales Growth With Focus on AI Products
Summary
Snowflake Inc. gave a sales outlook for the current quarter that beat estimates, suggesting that new artificial intelligence-oriented products can help accelerate growth. Product revenue — which makes up the bulk of Snowflake’s business — will be $805 million to $810 million in the period ending in July, the company said Wednesday in a statement. Analysts, on average, predicted $787.5 million, according to data compiled by Bloomberg. The company also raised its fiscal year product sales forecast to $3.3 billion from $3.25 billion.
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HealthTech
applications
Business Intelligence
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SaaS
Data Platform Software
Analytics Software
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Snowflake
$1B+