Snowflake GAAP EPS of -$0.70 misses by $0.12, revenue of $497.25M beats by $29.94M

• Snowflake press release (NYSE:SNOW): Q2 GAAP EPS of -$0.70 misses by $0.12.
• Revenue of $497.25M (+82.7% Y/Y) beats by $29.94M.
• Remaining performance obligations of $2.7B, representing 78% year-over-year growth.
• 6,808 total customers.
• Net revenue retention rate of 171%.
• 246 customers with trailing 12-month product revenue greater than $1M.
• Q3 Outlook: Product revenue $500M-505M, Year/Year Growth of 60-62%, operating margin 2%.
• 2023 Outlook: Product revenue $1,905M-1,915M, Year/Year Growth of 67-68%, Product gross profit margin of 75%, Operating margin 2%, Adjusted free cash flow margin 17%.
• Shares +10.85%.