Snowflake spikes 22% on healthy results and AI coding momentum
The cloud data company lifted fiscal 2027 product revenue guidance to $6.07 billion after quarterly results beat estimates and AI demand strengthened.
- On Wednesday, Snowflake raised its full-year product revenue forecast, citing strong demand for its cloud data platform and AI tools, sending shares up more than 20% in extended trading.
- Fiscal second quarter revenue hit $1.55 billion, a 35% year-over-year increase surpassing the $1.48 billion estimate from LSEG.
- The CoCo artificial intelligence coding agent drove growth, adding over 2,000 new accounts during the quarter to reach 9,100 total accounts.
- Management now projects $1.59 billion in product revenue for the fiscal third quarter and raised adjusted operating margin guidance to 14.5%, narrowing net losses year-over-year.
- Executives increased full-year product revenue outlook to $6.07 billion from $5.84 billion, capitalizing on momentum from a five-year, $6 billion Amazon Web Services partnership.
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Snowflake (NYSE:SNOW) Posts Earnings Results, Beats Estimates By $0.17 EPS
Snowflake (NYSE:SNOW - Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.17. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.48 billion.
Snowflake Reports Financial Results for the Second Quarter of Fiscal 2027
Product revenue of $1.49 billion in the second quarter, representing 37% year-over-year growth Financial Highlights: Revenue of $1.55 billion in the second quarter, representing 35% year-over-year growth Net revenue retention rate of 126% 828 customers with trailing 12-month product revenue greater than $1 million, representing 27% year-over-year growth 829 Forbes Global 2000 customers Remaining performance […]
Snowflake lifts annual product revenue forecast, shares soar
Sept 2 : Snowflake raised its full-year product revenue forecast on Wednesday, betting on strong demand for its cloud data platform and AI offerings, sending its shares up more than 20 per cent in extended trading. The company now expects fiscal 2027 product revenue of $6.07 billion, compared with its previo
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