Snowflake A

Snowflake reported product revenue growth of 37% to $1.49 billion in Q2 and an increase in large customers (≥ $1 million annual revenue) to 828. After the strong momentum and a share-price rise of over 16% on September 3, management raised the full-year product revenue forecast from $5.84 billion to $6.07 billion. The company continues to benefit from demand for cloud-based data and AI solutions. » More on finanzen.net

Snowflake beat market expectations with strong quarterly results, reflecting high demand for modern data solutions. New AI features and the usage-based business model should significantly accelerate future revenue growth. The company raised its margin outlook, and the AI assistant CoCo is seeing strong user and revenue growth, driving the share price on very high trading volume. » More on finanzen.net

At the Citi Global TMT Conference, Snowflake said AI products like Cortex are increasing usage of the core platform and making the business faster, leaner and more profitable. The full-year growth forecast was raised from 31% to 36% after two quarters of accelerated growth, and the non‑GAAP product gross margin remained steady at 74%. The company reported stronger cash flows, a marked slowdown in headcount growth, and still targets GAAP profitability by Q4 2025. » More on de.investing.com