Snowflake shares surge 22% on strong earnings and AI coding agent growth
Snowflake reported fiscal Q2 2027 revenue of $1.55 billion, beating analyst expectations of $1.48 billion, with adjusted EPS of $0.62 versus $0.45 consensus. The company raised its full-year product revenue forecast to $6.07 billion and highlighted its CoCo AI coding agent, which grew to over 9,100 accounts. Shares surged up to 25.6% in after-hours and premarket trading.
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Snowflake Stock Surges 25% on Strong Earnings and Raised Guidance
Shares of Snowflake (NYSE: SNOW) surged as much as 25.6% on September 3, 2026, following the release of its fiscal 2027 second-quarter earnings report that significantly exceeded analyst expectations. The cloud-based data storage company reported revenue of $1.55 billion, up 35% year over year, driven by product revenue growth of 37% to $1.49 billion. Adjusted earnings per share reached $0.62, a 77% increase, beating consensus estimates of $0.45. Key growth metrics included remaining performance obligations (RPO) growing 30% to $9 billion, total customer count rising 32% to 14,554, and customers spending over $1 million annually increasing 27% to 828. CEO Sridhar Ramaswamy attributed the performance to AI creating a 'flywheel effect' across the business. The company raised its full-year 2027 product revenue guidance to $6.07 billion, up from $5.84 billion, and provided a better-than-expected Q3 forecast of approximately $1.59 billion in product revenue, representing about 37% growth. Despite trading at 137 times next year's expected earnings, investors cheered the accelerating growth trajectory.
Snowflake stock surges 20% on AI-driven Q2 revenue jump and enterprise adoption
Snowflake (SNOW) stock surged up to 20% in pre-market trading on Thursday after the cloud-based software company reported a blowout fiscal 2027 second quarter. Revenue jumped 35% year-over-year to $1.55 billion, driven by enterprise AI adoption. CEO Sridhar Ramaswamy said customers using AI on Snowflake consume more across the data platform, creating a 'powerful flywheel' that is accelerating. AI products accounted for roughly half of the growth acceleration, with tools like Cortex AI coding assistant and CoWork enterprise chatbot seeing rapid adoption. Adjusted earnings per share came in at $0.62. Year-to-date, Snowflake stock is up more than 40%.
Snowflake stock surges 20% on AI-driven Q2 revenue jump of 35%
Snowflake (SNOW) stock surged as much as 20% in premarket trading on Thursday after the cloud-based software company reported a blowout second quarter. Revenue jumped 35% to $1.55 billion, driven by strong customer adoption of artificial intelligence products. CEO Sridhar Ramaswamy said customers using AI on Snowflake consume more across the data platform, creating a structural multiplier for the business. He described this as a powerful flywheel that is accelerating. AI products accounted for roughly half of the growth acceleration in the quarter, including tools like Cortex, an AI coding assistant, and enterprise chatbot CoWork. Snowflake reported adjusted earnings per share of $0.62 for its fiscal 2027 second quarter. Year to date, Snowflake stock is up more than 40%.
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Snowflake beats Q2 2027 earnings estimates, raises full-year revenue forecast on AI growth
Snowflake reported fiscal second-quarter 2027 revenue of $1.55 billion, beating analyst expectations of $1.48 billion, and raised its full-year product revenue forecast to $6.07 billion, representing 36% year-over-year growth. The company's stock surged 22% in after-hours trading. Product revenue, a key metric, reached $1.49 billion, up 37% year over year, marking the third consecutive quarter of acceleration. Adjusted earnings per share came in at 62 cents, well above the 45 cents expected. CEO Sridhar Ramaswamy attributed the strong results to growing adoption of AI products, stating that the AI transformation sweeping enterprises is compounding Snowflake's advantage. The company's CoCo AI coding agent ended the quarter with over 9,100 accounts, while its CoWork product grew to 5,800 accounts. Snowflake added 692 net new customers, bringing its total to over 14,500 globally. Remaining performance obligations reached $9 billion, up 30% year over year. On a GAAP basis, the company narrowed its net loss to $191.7 million from $297.9 million a year ago.
Snowflake shares spike 22% on strong earnings and AI coding agent growth
Snowflake shares surged 22% in extended trading on Wednesday after the data analytics software maker reported fiscal second-quarter results that beat analyst expectations. The company posted adjusted earnings per share of 62 cents on revenue of $1.55 billion, surpassing LSEG consensus estimates of 45 cents and $1.48 billion respectively. Revenue jumped 35% year over year. Snowflake highlighted growth from its CoCo artificial intelligence coding agent, which now has 9,100 accounts, an increase of over 2,000 during the quarter. For the fiscal third quarter, Snowflake guided product revenue of $1.59 billion, above the $1.50 billion consensus. The company raised its full-year product revenue forecast to $6.07 billion from $5.84 billion in May and now expects a 14.5% adjusted operating margin, up from 13.5%. As of Wednesday's close, Snowflake shares were up 39% year-to-date, outperforming the S&P 500's 12% gain.