The cloud storage software company earned 27 cents per share for the quarter, beating the consensus estimate of 16 cents.

• Snowflake rose 7% Thursday after the company reported better-than-expected revenue and earnings. For the October quarter, the cloud data company generated revenue of $734.2 million, up 32% year-over-year and slightly above expectations of $714 million.
• Adjusted earnings were 27 cents per share, again well above the consensus estimate of 16 cents per share. Product revenue, the company's main source of sales, was $698.5 million, up 34% year-over-year, thanks to the company's expanding customer base and a recent partnership with Nvidia. Adjusted free cash flow is $111 million.
• For fiscal 2024 ending in January, Snowflake expects revenue of $2.65 billion, up 37%. Snowflake shares have had a rocky year, but they've also delivered crystal-clear growth. After a long zig-zag move through the first nine months of 2023, shares are up more than 30% between late October and today.