Snowflake's Stock Gains on Strong Earnings and Bullish Forecast

Published 2 hours agoSNOW

Snowflake's Stock Gains on Strong Earnings and Bullish Forecast

Snowflake Inc. has reported impressive financial results for the first quarter, sparking a notable rise in its stock price. The data cloud company achieved a 26% year-over-year increase in product revenue, reaching $996.8 million and outperforming analyst expectations set at $959.2 million. Additionally, Snowflake's adjusted earnings per share hit 24 cents, higher than the forecasted 21 cents, as covered by Reuters.

In a boost to its outlook, Snowflake has increased its fiscal 2026 product revenue forecast to $4.325 billion, up from the previous $4.28 billion target. This positive revision is credited to growing interest in data analytics and artificial intelligence services. Notably, the company has also enhanced its AI capabilities by integrating OpenAI's models into its Snowflake Cortex AI service, aiming to attract businesses focused on AI applications.

As a result of these robust financials and optimistic projections, Snowflake's shares have risen by 6% in after-hours trading, reaching $190.09. This demonstrates the market's confidence in Snowflake's strategic focus on AI and data services, positioning the company for continued growth as highlighted in its recent earnings announcement.

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Snowflake's Stock Gains on Strong Earnings and Bullish Forecast

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2 hours agoSNOW

Snowflake Inc. has reported impressive financial results for the first quarter, sparking a notable rise in its stock price. The data cloud company achieved a 26% year-over-year increase in product revenue, reaching $996.8 million and outperforming analyst expectations set at $959.2 million. Additionally, Snowflake's adjusted earnings per share hit 24 cents, higher than the forecasted 21 cents, as covered by Reuters. In a boost to its outlook, Snowflake has increased its fiscal 2026 product revenue forecast to $4.325 billion, up from the previous $4.28 billion target. This positive revision is credited to growing interest in data analytics and artificial intelligence services. Notably, the company has also enhanced its AI capabilities by integrating OpenAI's models into its Snowflake Cortex AI service, aiming to attract businesses focused on AI applications. As a result of these robust financials and optimistic projections, Snowflake's shares have risen by 6% in after-hours trading, reaching $190.09. This demonstrates the market's confidence in Snowflake's strategic focus on AI and data services, positioning the company for continued growth as highlighted in its recent earnings announcement.

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