:max_bytes(150000):strip_icc()/GettyImages-2231423801-43840a49c60e41269b7ec24bb9bdf6e9.jpg "Snowflake Stock Soars as AI Demand Boosts Results, Outlook")
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Key Takeaways
- Snowflake exceeded estimates for profit and sales as more customers used its AI software.
- The cloud data provider also increased its full-year guidance.
- Snowflake added 48 more customers with $1 million plus product revenue from the previous quarter.
Shares of Snowflake (SNOW) jumped 14% in premarket trading Thursday when the artificial intelligence (AI) data cloud provider posted better-than-anticipated results and boosted its guidance as it added more customers.
The software company reported second quarter fiscal 2026 adjusted earnings per share (EPS) of $0.35 on revenue that grew 32% year-over-year to $1.14 billion. Analysts surveyed by Visible Alpha had expected $0.27 and $1.09 billion, respectively. Product revenue of $1.09 billion also topped forecasts.
Net revenue retention rate was 125%, and Snowflake had 654 customers with trailing 12-month product revenue above $1 million, up from 606 in the previous quarter.
CEO Sridhar Ramaswamy noted that more than 6,100 accounts are using Snowflake’s AI every week, and that the company has “an enormous opportunity ahead as we continue to empower every enterprise to achieve its full potential through data and AI.”
Snowflake now sees full-year product revenue increasing 27% to about $4.40 billion, versus its earlier outlook of a 25% gain to roughly $4.33 billion.
Entering today’s session, Snowflake shares had risen 30% in 2025.
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