Overview
- Snowflake topped Q3 estimates with $1.21 billion in revenue and $0.35 adjusted EPS, reporting 29% product revenue growth to $1.16 billion and a 37% rise in remaining performance obligations to $7.88 billion.
- The company guided Q4 product revenue to $1.195–$1.20 billion, implying about 27% growth, and cut adjusted operating margin guidance to 7% from 11% in Q3, sending shares down roughly 8–10% as management cited pricing on large, long-term deals.
- Snowflake unveiled a multiyear $200 million Anthropic partnership to bring Claude models and joint go‑to‑market to its platform, highlighted more than $2 billion in AWS Marketplace sales, and expanded work with Accenture.
- Salesforce beat on adjusted EPS at $3.25 with revenue of $10.26 billion just below consensus, raised Q4 and fiscal 2026 revenue guidance, expanded adjusted operating margin to 35.5%, and reported cRPO up 11% to $29.4 billion.
- Salesforce pointed to accelerating AI adoption with Agentforce and Data 360 nearing $1.4 billion in ARR, more than 9,500 paid Agentforce deals, and 3.2 trillion tokens processed, lifting the stock modestly as some analysts tweaked price targets.