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yesterday

Snowflake Raises FY26 Revenue Target After Q1 Earnings Beat Expectations

The cloud data platform reported 26% product revenue growth and announced strong guidance, driven by AI integration and enterprise demand.

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The company logo for Snowflake Inc. is displayed on a banner to celebrate the company's IPO at the New York Stock Exchange (NYSE) in New York, U.S., September 16, 2020. REUTERS/Brendan McDermid/File photo
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Overview

  • Snowflake reported Q1 FY26 product revenue of $996.8 million, a 26% year-over-year increase, exceeding analyst estimates of $959.2 million.
  • Adjusted earnings per share came in at $0.24, surpassing the forecasted $0.21 per share, reflecting robust profitability growth.
  • The company raised its full-year FY26 product revenue target to $4.325 billion, up from the previous $4.28 billion projection.
  • Snowflake forecast Q2 product revenue between $1.035 billion and $1.040 billion, above the consensus estimate of $1.022 billion.
  • Shares rose over 6% following the announcement, with analysts at Piper Sandler increasing their price target to $215 and highlighting Snowflake as a top growth pick for 2025.