Overview

• Revenue reached $1.14 billion with adjusted EPS of $0.35, topping estimates, as product revenue grew 32% year over year and net revenue retention held at 125%.
• The company lifted full‑year product revenue guidance to about $4.395–$4.40 billion and guided Q3 product revenue to $1.125–$1.13 billion, roughly 25.5% growth.
• Snowflake reported more than 6,100 accounts using its AI weekly, said AI influenced nearly half of new customer wins, and noted AI now powers a significant share of deployed use cases.
• Customer metrics strengthened with 654 clients generating over $1 million in trailing 12‑month product revenue, 533 net new customers in the quarter, and remaining performance obligations of $6.9 billion, up 33%.
• Shares rose about 14%, adding over $11 billion in market value, as analysts raised targets and highlighted momentum including accelerated usage on Microsoft Azure, particularly in EMEA.