![]() ![]() "We report revenue on what people are actually consuming during the quarter. ![]() In that quarterly report, Snowflake projected product revenue growth of 82% on a -year-over-year basis. Slootman noted that Snowflake ended up blowing past the fiscal 2022 product revenue forecast the company provided on March 3, 2021. In fiscal 2022, Snowflake's product revenue - which accounts for most of its overall sales - jumped nearly 106%, according to its earnings presentation Wednesday. "That's not how we do things, so we'd rather come from a conservative posture and be able to walk things up." ![]() We don't put the wet finger in the wind and go, 'Well, we think it's going to be this,'" Slootman said. "We take a data-driven approach, which you would expect from a data management company. That would represent a sizable slowdown from previous years. Snowflake said it expects product revenue to increase between 65% to 67% in the fiscal year, right around the 66% growth analysts expected, according to FactSet. Investors were processing the company's slowest revenue growth since at least 2019, as well as its guidance for fiscal 2023. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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