Snowflake Jumps 22% After Q2 Beat, Raises FY27 Product Revenue to $6.07B
SNOW has more than doubled off its 52-week low of $118.3 on elevated volume (2.1× avg).
Summary
Snowflake delivered a strong Q2 with total revenue of $1.55 billion, beating the $1.48 billion estimate, and adjusted EPS of $0.62 versus $0.45 expected. The company raised its full-year product revenue outlook to $6.07 billion from $5.84 billion and guided Q3 product revenue to $1.59 billion, above the $1.5 billion consensus. Adjusted operating margin guidance was also lifted to 14.5% from 13.5%. The AI coding agent CoCo added over 2,000 accounts to reach 9,100, underscoring momentum in AI-driven products. Shares surged 22% in after-hours trading, building on a 40% year-to-date gain. This follows the earlier Reuters report on the raised outlook, but adds granular Q3 guidance and margin details that sharpen the picture for traders.
At the time of this announcement, SNOW was trading at $374.37 on NYSE in the Technology sector, with a market capitalization of approximately $106B. The 52-week trading range was $118.30 to $341.95. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: CNBC TV18.