Snowflake Q4 results top estimates; CEO retires

February 28, 2024 4:35 PM EST -- Snowflake (NYSE: SNOW) reported Wednesday better-than-expected fourth-quarter results and the data company announced that chief executive officer Frank Slootman had decided to retire and would be succeeded by Sridhar Ramaswamy.

Ramaswamy had been spearheading Snowflake’s AI strategy since joining the company in May 2023.

For the three months ended Jan. 31, Snowflake adjusted earnings of $0.35 per diluted share, up from $0.14 a year earlier, on revenue of $774.7M, up from $589.0M a year earlier. That topped analyst estimates of $0.18 on revenue of $760.6M.

Looking ahead, the company guided Q1 product revenue of $745M to $750M and full-year revenue of $3.25B.

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