Snowflake Posts 33% Revenue Growth, $0.39 EPS Beat and $6B AWS Deal
SNOW•Snowflake's Q1 adjusted EPS of $0.39 topped the $0.32 consensus as revenue rose 33% YoY to $1.39 billion, driven by a 34% jump in product revenue to $1.33 billion. The company also committed $6 billion to AWS over five years and raised its 2027 product revenue forecast to $5.84 billion.
1. Q1 Earnings Beat
Snowflake delivered adjusted EPS of $0.39, surpassing the $0.32 consensus, as total revenue climbed 33% year‐over‐year to $1.39 billion. Product revenue reached $1.33 billion, up 34% YoY, marking the strongest sequential dollar growth in the company’s history.
2. $6 billion AWS Agreement
The company committed $6 billion to Amazon Web Services over five years, its largest infrastructure deal to date, deepening integrations between its AI Data Cloud and AWS’s computing services for enterprise AI workloads.
3. Raised Guidance and Customer Metrics
Snowflake lifted its fiscal 2027 product revenue forecast to $5.84 billion, up 31% YoY from prior guidance of $5.66 billion, and now has 779 customers spending over $1 million on trailing revenue, a 29% increase year-over-year.
