Bullish
Snowflake's (SNOW) stock surges 20% after strong Q2 earnings and AI-driven growth
Snowflake Inc. reported robust fiscal second-quarter results, with revenue reaching $1.55 billion—a 35% year-over-year increase—and adjusted earnings per share of $0.62, surpassing analyst expectations of $0.45. The company also raised its full-year product revenue guidance to approximately $6.07 billion, driven by strong demand for its AI products, particularly the CoCo AI coding agent, which now has over 9,100 accounts.
Key points
- Snowflake's Q2 revenue and earnings exceeded expectations, with product revenue growing 37% year-over-year.
- The company raised its full-year product revenue guidance to $6.07 billion, up from $5.84 billion.
- CoCo, Snowflake's AI coding agent, added over 2,000 new accounts in the quarter, bringing total usage to 9,100 accounts.
- Despite strong earnings, Snowflake's stock experienced a 5% decline in the following session, attributed to profit-taking.
Sources
AI-generated from public news sources. Not financial advice.
