Snowflake Reports Q2 Earnings Beat and Raises Full-Year Revenue Forecast
Snowflake reported second-quarter revenue of $1.55 billion, exceeding analyst expectations and prompting the company to raise its full-year product revenue guidance from $5.84 billion to $6.07 billion. The results marked a year-over-year growth acceleration for the third consecutive quarter in Snowflake's key metric—product revenue—which reached $1.49 billion. Adjusted earnings per share came in at 62 cents, surpassing estimates of 45 cents. The company also raised its full-year adjusted operating margin outlook to 14.5% from 13.5%. For the upcoming quarter, Snowflake expects product revenue between $1.588 billion and $1.593 billion—well above analyst expectations of $1.50 billion. CEO Sridhar Ramaswamy attributed strong performance to growing adoption of AI products like CoCo and CoWork, which saw significant account growth. Snowflake added 692 net new customers in the quarter, bringing its total customer base past 14,500 globally. Remaining performance obligations reached $9 billion, up 30% year over year.
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