Snowflake Inc (NASDAQ:SNOW) shares were up 7.53% to $188.52 in Thursday’s early deals after the cloud data firm beat market expectations with its third-quarter financials.
It generated adjusted earnings per share (EPS) for the quarter of $0.25 on revenue that rose 32% year-over-year to $734.2 million.
Wall Street was expecting adjusted EPS of $0.16 and revenue of $713.36 million.
"During Q3, product revenue grew 34% year-over-year to reach $698 million and non-GAAP adjusted free cash flow was $111 million, representing 70% year-over-year growth," Snowflake CEO Frank Slootman said in a statement.
"These results reflect strong execution in a broadly stabilizing macro environment," he added.
Shares of Snowflake have gained more than 30% in 2023 to date.