Why Jim Cramer Was Hoping Snowflake Would Dip Beneath $200

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Snowflake  (SNOW) - Get Report reported earnings. 

The company reported third-quarter revenue of $159.6 million, representing a year over year growth of 115%, analysts were expecting revenue of $147.52 million.

The company also reported a net loss of $1.01 per share. Analysts expected a third-quarter net loss of 26 cents per share.

For the fourth quarter, the company expects product revenue between $162 million and $167 million.

“We are pleased with our performance this first quarter as a public company,” Snowflake CEO, Frank Slootman said. “The period was marked by continued strong revenue growth coupled with improving unit economics, cash flow, and operating efficiencies. Our vision of the Snowflake Data Cloud mobilizing the world’s data is clearly resonating across our customer base.”

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