Snowflake (SNOW) Q3 earnings report 2025

Snowflake shares on Wednesday spiked 19% in extended trading after the data analytics software maker reported fiscal third-quarter earnings that beat estimates.

Here’s how the company did, compared to LSEG analyst expectations:

• Earnings per share: 20 cents, adjusted vs. 15 cents expected
• Revenue: $942 million vs. $897 million expected

Snowflake’s total revenue rose 28% year over year in the quarter, which ended on Oct. 31, according to a statement. The company’s net loss of $324.3 million, or 98 cents per share, widened from $214.3 million, or 65 cents per share, in the same quarter a year earlier.

Product revenue, at $900.3 million, represented around 96% of total revenue. Snowflake called for $3.43 billion in fiscal 2025 product revenue, implying 29% growth. That’s up from the $3.36 billion forecast management gave three months ago, which suggested 26% growth.

The full-year view also includes an adjusted operating margin of 5%, up from the 3% guidance in August.

Snowflake is focusing more on saving money, CEO Sridhar Ramaswamy told analysts on a conference call.

“We’ve been creating centralized, more efficient teams for some areas and removing redundant management layers, which enables us to make decisions faster,” he said.

But the company isn’t doing a major round of layoffs, finance chief Mike Scarpelli said.

Snowflake had 10,618 customers at the end of October, having added 369 in the fiscal third quarter. Analysts polled by StreetAccount had expected 10,601.

For years, Snowflake has put up with competition from cloud providers such as Amazon and Microsoft, but they also are key partners that provide the company with underlying computing resources. “Through our collaboration with AWS, we have booked over $3.9 billion over the past four quarters,” Ramaswamy said.

Also on Wednesday, Snowflake announced a multi-year partnership with Anthropic, the Amazon-backed artificial intelligence startup and OpenAI competitor. And it said it had agreed to buy startup Datavolo for undisclosed terms.

As of Wednesday’s close, the stock was down 35% so far in 2024, while the S&P 500 index was up 24%.

Executives will discuss the results with analysts on a conference call starting at 5 p.m. ET.

This is breaking news. Please check back for updates.

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