Snowflake stock is surging on signs that enterprise AI demand is driving big gains for its business.
Snowflake Inc (NYSE:SNOW) shares jumped 23% in after-hours trading Wednesday after the cloud data company posted second-quarter results that beat Wall Street estimates and raised its full-year guidance. The company reported fiscal 2027 second-quarter revenue of $1.55 billion, up 35% year-over-year and above the $1.48 billion analysts had expected.
Companies looking to build AI tools on top of their data are turning to Snowflake, driving robust revenue growth.
Software is the day's clearest sore spot at midday, with a handful of the year's biggest AI-era winners giving back ground even as the broader large-cap technology tape barely moves.
Snowflake stock has remained in a narrow range in the past few weeks, but this may change later today, September 2nd, when the company publishes its financial results. SNOW was trading at $319.80, down modestly from last month's high of $341.
Snowflake is set to report its latest quarterly results after the closing bell on Wednesday, with the cloud database software provider's stock seen potentially rising to a fresh five-year high following the results.
Snowflake heads into Q2 earnings with strong AI momentum and customer growth, though premium valuation and margin pressures remain risks.
Beyond analysts' top-and-bottom-line estimates for Snowflake (SNOW), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended July 2026.
Snowflake's product revenues jump 34% to $1.33B as AI adoption and customer growth drive a higher fiscal 2027 revenue outlook.
Snowflake NYSE: SNOW CEO Sridhar Ramaswamy said enterprise AI is shifting attention away from model benchmarks and toward the quality, governance and business context of the underlying data.
Snowflake (NYSE:SNOW | SNOW Price Prediction) reports its next quarter on Wednesday, September 2, 2026, after the market closes, and the stock walks in hot.
Snowflake Inc. (SNOW) closed the most recent trading day at $322.78, moving 3% from the previous trading session.