Snowflake Reports Q2 FY 2027 Earnings with Strong Revenue Growth
Snowflake (SNOW) reported strong financial results for the second quarter of fiscal year 2027, driven by continued momentum in its enterprise AI and data platform offerings. Product revenue reached $1.49 billion, reflecting a 37% year-over-year increase and marking two consecutive quarters of record sequential dollar growth. The company noted significant acceleration from prior periods, with an additional seven percentage points added to its annualized growth rate within just two quarters. Snowflake also highlighted improvements in operational efficiency, as non-GAAP operating margins expanded by more than 400 basis points year-over-year to reach 15%. CEO Sridhar Ramaswamy emphasized the company's role at the center of the enterprise AI revolution and its focus on enabling organizations to become 'agentic enterprises' through governed data foundations and advanced workflows. CFO Brian G. Robins reiterated Snowflake’s disciplined execution, which is supporting both growth and margin expansion. The earnings call included forward-looking guidance for Q3 FY 2027 and the full year, with a focus on maintaining strong performance while navigating evolving market dynamics.
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