Snowflake (SNOW) Stock Jumps 23% After Q2 Earnings Beat and Raised Guidance
TLDR
- Snowflake stock jumped over 23% after reporting Q2 adjusted EPS of $0.62, beating the $0.45 consensus
- Revenue hit $1.55 billion, up 35% year over year, topping the $1.48 billion estimate
- Product revenue grew 37% YoY, marking three consecutive quarters of acceleration
- AI coding agent CoCo surpassed 9,100 accounts, adding over 2,000 in the quarter
- Full-year product revenue guidance raised to $6.07 billion, up from $5.84 billion
Snowflake (SNOW) stock surged over 23% in premarket trading Thursday after the company posted Q2 results that beat on both the top and bottom lines and raised its full-year outlook.
The stock closed Wednesday up 39% year to date, already outpacing the S&P 500โs roughly 12% gain over the same period. Thursdayโs move, if it holds, would rank as the fourth largest single-day jump since the company went public in 2020.
Adjusted EPS came in at $0.62, well ahead of the $0.45 analyst consensus. Revenue reached $1.55 billion versus the $1.48 billion estimate, up 35% year over year.
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