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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 stock hovers near 5-year high: How strong AI demand sparked a 26% share rally
Snowflake shares jumped 26% to $384 after the company reported a 37% rise in product revenue for the quarter, surpassing Wall Street expectations. Its updated outlook predicts $6.07 billion in product revenue for the fiscal year, fuelled by increased AI and cloud platform adoption.
·New Delhi, India
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Snowflake's AI Efforts Accelerate, but Can Margins Withstand the Pressure?
Snowflake just posted the kind of AI growth numbers that send stocks soaring, but a quiet revision buried in management's guidance reveals a cost problem that could haunt the bull case for quarters to come.
·Lakewood, United States
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AI demand spurs HPE – share still gives in to +++ AI boom spurs Dell – revenue and profit forecast raised +++ Swiss Life cuts 600 jobs despite profit plus +++ The news blog.
·Düsseldorf, Germany
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Total News Sources32
Leaning Left2Leaning Right2Center9Last UpdatedBias Distribution69% Center
Bias Distribution
- 69% of the sources are Center
69% Center
L 16%
C 69%
15%
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