Snowflake’s product revenue rose 34% year over year to $1.33 billion
Snowflake’s fiscal first-quarter results showed a significant acceleration in business, with product revenue rising 34% year over year to $1.33 billion.
The company’s revenue growth was an acceleration from 30% in fiscal Q4 and 26% in the year-ago quarter.
This rebound comes after the stock had fallen sharply earlier in the year, sitting more than 50% below where it had traded a year earlier at one point in April.
The strong earnings report has helped the stock rebound, with it now up sharply year to date.