Snowflake, led by CEO Sridhar Ramaswamy, has reported impressive Q4 results, surpassing analyst expectations and reaffirming its turnaround strategy. Revenue reached $986.8 million, a 27% year-over-year increase, largely powered by strong performance in AI and cost management. The company's core product revenue also grew by 28% to $943.3 million, showcasing the effectiveness of its data cloud solutions. Despite a GAAP loss, the improved non-GAAP operating income highlights the company's enhancements. Snowflake’s full-year revenue climbed by 30% to $3.46 billion, marking a substantial recovery and strengthening investor trust.
CEO Sridhar Ramaswamy has been on the job for less than a year, but his focus on AI and cost-cutting is having the desired results.
Snowflake delivered solid results, with revenue hitting $986.8 million, up 27% year-over-year and beating Wall Street's $956.9 million estimate.
Product revenue, the core of its business, reached $943.3 million, a 28% increase from last year, and was driven higher by its data cloud and AI integrations.
For the full year, revenue climbed 30% to $3.46 billion, with non-GAAP operating income hitting $92.8 million, a stark improvement from last year's losses.
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