Overview
- Snowflake beat Q3 estimates with $1.21 billion in revenue and $0.35 adjusted EPS, including $1.16 billion in product revenue up 29% year over year and RPO up 37% to $7.88 billion.
- The company guided Q4 product revenue to $1.195–$1.20 billion (about 27% growth) and forecast a 7% adjusted operating margin, sending shares down roughly low double digits over subsequent sessions.
- Snowflake announced a multiyear $200 million deal with Anthropic to bring Claude models to its platform, cited AWS Marketplace sales surpassing $2 billion, and expanded work with Accenture.
- Management said Snowflake reached a $100 million AI revenue run-rate a quarter early and that Snowflake Intelligence is the fastest-adopted product in company history, even as investors focus on margins.
- Salesforce reported an EPS beat and said Agentforce ARR topped $500 million with production accounts up 70% quarter over quarter, helping its shares post a strong week despite a slight revenue miss.