Here’s how the company performed relative to LSEG consensus:<\/p>\n
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- Earnings per share:<\/strong> 62 cents adjusted vs. 45 cents expected<\/li>\n
- Revenue:<\/strong> $1.55 billion vs. $1.48 billion expected<\/li>\n<\/ul>\n
Snowflake’s revenue jumped 35% year over year in the fiscal second quarter, which ended on July 31, according to a statement<\/a>. The company recorded a net loss of $191.7 million, or 55 cents per share, smaller than the net loss of $297.9 million, or 89 cents per share, one year ago.<\/p>\n
The company pointed to gains from the CoCo artificial intelligence coding agent, which now has 9,100 accounts, an increase of over 2,000 during the quarter.<\/p>\n
For the fiscal third quarter, Snowflake said it sees $1.59 billion in product revenue, above the $1.50 billion consensus among analysts polled by StreetAccount. Management pushed up its product revenue forecast for the fiscal year, calling for $6.07 billion, compared with $5.84 billion in May. It’s now forecasting a 14.5% adjusted operating margin, wider than the 13.5% figure it had projected in May.<\/p>\n
As of Wednesday’s close, Snowflake shares were up 39%, while the S&P 500 index had gained about 12% in the same period. If the stock moves as high on Thursday as it did after hours on Wednesday, it would represent the fourth highest jump since Snowflake went public<\/a> in 2020.<\/p>\n
Executives will discuss the results with analysts on a conference call starting at 5 p.m. ET.<\/p>\n
WATCH:<\/strong> Cramer\u2019s Stop Trading: Snowflake<\/a><\/p>\n
- Revenue:<\/strong> $1.55 billion vs. $1.48 billion expected<\/li>\n<\/ul>\n
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