For the quarter gone by, Snowflake reported revenue of $1.55 billion, which was higher than the $1.48 billion estimate. Earnings Per Share (EPS) on an adjusted basis stood at $0.62, higher than the $0.45 projection. When compared to the same quarter last year, Snowflake’s revenue increased by 35%.
Net loss for the quarter also narrowed to $191.7 million, compared to a loss of $297.9 million that the company had reported last year.
Snowflake attributed the performance during the quarter to growth seen in its artificial intelligence coding agent “CoCo”, which now has 9,100 accounts, having seen an increase of over 2,000 new accounts during the quarter.
For the third quarter, Snowflake sees product revenue at $1.59 billion, higher than the consensus estimate of $1.5 billion. The management has also raised its full-year product revenue projections to $6.07 billion from $5.84 billion guided for earlier.
On an adjusted basis, operating margins are now expected to be at 14.5%, wider than the earlier projection of 13.5%.
As of closing of regular trading on Wednesday, shares of Snowflake were up 40% so far in 2026, outperforming the S&P 500’s 12% advance. If the afterhours gains do hold for the stock, it will be the fourth-biggest single-day jump for the company since it went public back in 2020.
