Snowflake Predicted to Reach $8 Billion in Product Revenue by Fiscal 2028
Snowflake (NYSE: SNOW) is on track for significant revenue growth, with management forecasting product revenue of approximately $6.07 billion in fiscal 2027—a year-over-year increase of 36%. This marks the second time this year that guidance has been raised and reflects a consistent acceleration in performance across its core data platform and AI products. The company's recent quarterly results show continued momentum, with product revenue reaching $1.49 billion for Q2 fiscal 2027—up 37% from last year. Snowflake’s net revenue retention rate remains strong at 126%, indicating that existing customers are increasing their spending on the platform. Looking ahead, achieving $8 billion in product revenue by fiscal 2028 would require about 32% growth next year—slightly lower than this year's forecast. The company’s AI offerings, such as CoCo, have seen rapid adoption and may contribute to sustaining that pace.
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Topics: AI products cloud computing earnings report revenue growth