By Maria Armental 
 

Snowflake Inc.'s revenue more than doubled in the latest period, helped by international expansion, as the number of its $1-million-plus customers reached 148.

Third-quarter net loss narrowed to $154.9 million from $168.9 million a year earlier. On a per-share basis, the loss was 51 cents a share.

Revenue rose to $334.4 million from $159.6 million a year earlier.

Analysts surveyed by FactSet had expected a loss of 60 cents a share and about $306 million in revenue.

On Wednesday, Snowflake said it had 5,416 customers as of Oct. 31, compared with 4,990 as of July 31, including 148 customers that accounted for more than $1 million in product revenue over the past 12 months.

Chief Executive Frank Slootman said in a statement that momentum accelerated in the third quarter, with product revenue more than doubling, and beating company and analyst projections.

 

Write to Maria Armental at maria.armental@wsj.com

 

(END) Dow Jones Newswires

December 01, 2021 16:28 ET (21:28 GMT)

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