Snowflake Reports Strong Q2 Results with Revenue and Earnings Exceeding Estimates
Snowflake (NYSE:SNOW) reported strong fiscal second-quarter 2027 results, surpassing analyst expectations for both revenue and adjusted earnings. The company's shares rose nearly 24% in premarket trading following the announcement. Snowflake posted total revenue of $1.55 billion—up from $1.48 billion expected—and an adjusted EPS of $0.62 versus a forecasted $0.45. The cloud data platform company also raised its full-year product revenue guidance to $6.07 billion, up from $5.84 billion previously. Product revenue reached $1.49 billion in the quarter, growing 37% year over year and marking three consecutive quarters of accelerating growth. The adoption of Snowflake's AI products like CoCo and CoWork contributed significantly to this performance. Analysts responded positively by raising their price targets for Snowflake ahead of the report. Cantor Fitzgerald set a $405 target, while Citigroup raised its estimate to $395. As a result, shares are now trading above the 52-week high.
Tickers: $SNOW
Topics: AI adoption earnings revenue growth stock price movement