Snowflake (SNOW) to Publish Q3 Earnings: What’s within the Offing? – November 25, 2022

Snowflake (SNOW Free Report) is about to report its third-quarter fiscal 2023 outcomes on Nov 30.

The Zacks Consensus Estimate for the highest line is at present pegged at $535.81 million, suggesting progress of 60.21% yr over yr.

The consensus mark for the underside line is pegged at a lack of 3 cents per share, unchanged over the previous 30 days and narrower than the lack of 4 cents reported within the year-ago quarter.

Snowflake’s earnings beat the Zacks Consensus Estimate in all of the trailing 4 quarters, the typical shock being 150%.

Let’s see how issues have formed up earlier than this announcement.

Elements to Observe

Snowflake’s fiscal third-quarter outcomes are anticipated to learn from an increasing clientele and robust accomplice base.

The corporate reported 36% year-over-year progress within the variety of clients, reaching 6,808 within the fiscal second quarter. The corporate added 12 Forbes International 2000 clients.

Snowflake signed 15 new clients with $1 million in trailing 12-month product revenues within the reported quarter.

It had 246 clients (with greater than $1 million in product revenues), up 112% yr over yr, within the fiscal second quarter.

Snowflake can also be benefiting from a robust accomplice base that features the likes of Amazon, Cognizant and Dell Applied sciences.

What Our Mannequin Signifies

Per the Zacks mannequin, the mixture of a constructive Earnings ESP and a Zacks Rank #1 (Sturdy Purchase), 2 (Purchase) or 3 (Maintain) will increase the chances of an earnings beat. However that’s not the case right here.

Snowflake has an Earnings ESP of 0.00% and a Zacks Rank #3. You possibly can uncover the perfect shares to purchase or promote earlier than they’re reported with our Earnings ESP Filter.

Shares to Think about

Listed here are just a few corporations value contemplating, as our mannequin reveals that these have the best mixture of parts to beat on earnings of their upcoming releases:

GIII Attire Group (GIII Free Report) has an Earnings ESP of +0.68% and a Zacks Rank #2. You possibly can see the entire listing of immediately’s Zacks #1 Rank shares right here.

GIII Attire is more likely to launch its fourth-quarter fiscal 2023 outcomes quickly. GIII shares have been down 22.2% yr up to now in contrast with the Zacks Laptop & Know-how sector’s decline of 31.2%.

AutoZone (AZO Free Report) has an Earnings ESP of +2.91% and a Zacks Rank #3. AZO is scheduled to launch its first-quarter fiscal 2023 outcomes on Dec 6.

AutoZone shares are up 20% yr up to now, outperforming the Zacks Laptop & Know-how sector.

Adobe (ADBE Free Report) has an Earnings ESP of +0.03% and a Zacks Rank #3. It’s more likely to launch its fourth-quarter fiscal 2022 outcomes quickly.

ADBE shares have been down 40.8% yr up to now, underperforming the Zacks Laptop & Know-how sector.

Keep on high of upcoming earnings bulletins with the Zacks Earnings Calendar.



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