Snowflake soars after lifting full-year product revenue forecast
SNOW•Stock performance
Up till last close, stock up 39.4% YTD.
Shares jump after forecast boost
Shares of cloud firm Snowflake SNOW.N rise 20.2% to $368.15 in extended trading.
The company raises its full-year product revenue forecast, betting on strong demand for its cloud data platform and AI offerings.
Fiscal 2027 outlook and quarterly results
SNOW expects fiscal 2027 product revenue of $6.07 billion versus a prior forecast of $5.84 billion.
Company's Q2 product revenue rises 37% to $1.49 billion.
SNOW posts Q2 overall revenue of $1.55 billion versus estimate of $1.48 billion - data compiled by LSEG.
Company reports Q2 adjusted earnings of 62 cents per share versus estimate of 45 cents per share.
