Snowflake (SNOW) has been on fire for its investors as of late.
Hot insight: “AI is compounding Snowflake’s strengths in data,” Snowflake CEO Sridhar Ramaswamy said on Yahoo Finance’s Opening Bid (video above). “A lot of our investments coming together
Over the past two years, we’ve been grinding away at making our sales organization an AI-native organization. Similarly, the product organization has been hard at work releasing amazing products.” The analysis: Snowflake’s earnings release on May 27 hit all the right notes and then some. Snowflake crushed Wall Street expectations by posting a 33% year-over-year revenue jump.
Core product revenue increased 34%, an acceleration from the preceding quarter. Management aggressively lifted its full-year fiscal 2027 product revenue guidance to $5.84 billion. That would mark 31% growth from the prior year, up from a previous 27% forecast. “Snowflake delivers milestone quarter as AI momentum accelerates,” DA Davidson analyst Gil Luria said in a note.