Snowflake shares surge 22% after-hours following strong Q2 results
Business
Snowflake just had a big win: its shares shot up 22% in after-hours trading on Wednesday, thanks to strong second-quarter numbers and an upbeat forecast.
The company pulled in $1.55 billion in revenue (beating estimates), and its adjusted earnings per share hit $0.62, way above what analysts expected.
Snowflake raises product revenue guidance
Revenue grew 35% compared to last year, and losses shrank to $191.7 million from $297.9 million.
Snowflake is feeling confident, raising its full-year product revenue guidance to $6.07 billion and bumping up its operating margin forecast as well.
A lot of this momentum comes from CoCo, its AI-powered coding agent, which brought in over 2,000 new accounts this quarter, helping the company outpace even the S&P 500 so far this year.