Snowflake Shares Jump 22% on Strong Earnings and AI Growth
· Technology · CNBC, Yahoo Finance
Snowflake shares rose 22% in extended trading on Wednesday following a fiscal second-quarter performance that exceeded analyst expectations. The data analytics company reported adjusted earnings of 62 cents per share on $1.55 billion in revenue, beating the anticipated 45 cents per share and $1.48 billion. Snowflake's revenue increased 35% year-over-year, with the company highlighting growth in its CoCo artificial intelligence coding agent, which now serves 9,100 accounts. Management raised its product revenue forecast for the fiscal year to $6.07 billion. Executives will discuss these results during a conference call at 5 p.m. ET.
Why it matters
The strong performance and upward guidance signal sustained demand for AI-integrated data analytics software among enterprise customers.
Read the original report — CNBC
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