Snowflake reported a 33% year-over-year revenue increase in Q1, beating estimates amid strong AI-driven demand and strategic deals.
Snowflake (SNOW) shares climbed over 30% in after-hours trading following a first-quarter fiscal 2027 earnings report that exceeded market expectations. Revenue rose 33% year-over-year, driven by heightened demand for AI capabilities on its data platform.
The company’s results surpassed analyst estimates, with growth also fueled by its recent Natoma acquisition and a new partnership with AWS. Comparable revenue growth in the prior quarter stood at 26%, highlighting an acceleration in momentum.
Investors reacted positively to the earnings beat, pushing shares sharply higher in extended trading.