Snowflake reported its first fiscal quarter for 2027 ended April 30, with total revenue of $1.39 billion, up 33% year over year, and product revenue of $1.33 billion, up 34% year over year. Earnings per share were 39 cents. Results beat analyst expectations that projected $1.32 billion in revenue and 32 cents EPS. AI was a major driver of growth, with momentum from AI-driven acceleration of the core platform and adoption of first-party AI products. Snowflake provides AI data cloud SaaS solutions that run on major cloud storage platforms such as Amazon Web Services, Google Cloud Platform, and Microsoft Azure, enabling analysis of large datasets and agent AI workloads.
"“AI continues to be a powerful tailwind for Snowflake, and Q1 marks a clear inflection point in that journey,” CEO Sridhar Ramaswamy said of the Q1 results, adding, “We are seeing strong momentum from both AI-driven acceleration of our core platform and growing adoption of our first-party AI products, positioning Snowflake to lead in this new era.”"
"“Total revenue of $1.39 billion, up 33% year-over year” and “Product revenue of $1.33 billion, up 34% YOY” with “Earnings per share (EPS): 39 cents” were reported for the quarter ended on April 30, representing some of the best results the company has reported."
"LSEG analysts had expected Snowflake to post “$1.32 billion in revenue for the quarter and an EPS of 32 cents,” but the reported figures came in higher, contributing to the stock’s surge in premarket trading."
"Snowflake offers AI dataset SaaS solutions that run on top of various cloud storage platforms like Amazon Web Services, Google Cloud Platform, and Microsoft Azure, allowing companies to analyze massive datasets and run agent AI on them."
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