Snowflake beats estimates, lifts outlook as AI momentum accelerates
Snowflake delivered a stronger-than-expected Q2 with adjusted EPS of $0.62 on $1.55 billion in revenue (up 35% year over year) and raised its full-year product revenue guidance to $6.07 billion (about 36% YoY). The company highlighted AI-driven growth, with product revenue up 37% YoY and accelerating momentum across its CoCo and CoWork offerings, 692 net new customers (up 32% YoY) and 829 Forbes Global 2000 customers. For Q3 FY2027, Snowflake guided product revenue of roughly $1.588–$1.593 billion (about 37–38% YoY). CFO noted accelerating growth while expanding operating margins, and analysts called the beat-and-raise a sign of a healthier, broad-based AI-driven cycle. Shares climbed about 23% in premarket trading.
