Snowflake Reports Strong Q2 Revenue Growth Driven by AI Adoption
Snowflake (SNOW) reported a significant revenue increase in its second quarter, with sales rising 35% to $1.55 billion. The company attributed much of this growth to increased adoption of artificial intelligence tools on its platform. CEO Sridhar Ramaswamy highlighted that AI usage by customers is driving higher consumption across Snowflake's data services, creating a "structural multiplier" for the business. Products like Cortex and CoWork saw rapid customer uptake during the quarter. Snowflake’s stock surged as much as 20% in premarket trading following the earnings report. The company reported adjusted earnings per share of $0.62 for Q2 fiscal 2027, with its shares up over 40% year to date.
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