Snowflake Q1 Earnings Beat Estimates, Revenue Up 33%, Shares Jump
Snowflake (SNOW) reported fiscal first-quarter 2026 results that topped analyst estimates, with revenue growing 33% year-over-year. The company also raised its full-year product revenue guidance, sending shares up about 35% in pre-market trading.
Key Numbers
Snowflake (SNOW) reported fiscal first-quarter 2026 results that exceeded analyst expectations, with total revenue of approximately $900 million (estimated), up 33% year-over-year. Shares surged about 35% in pre-market trading following the announcement.
Key Financial Results
| Metric | Q1 2026 | Q1 2025 | Growth |
|---|---|---|---|
| Total Revenue | $900M (est.) | $677M | +33% |
| Product Revenue | $850M (est.) | $640M | +33% |
| Net Income (Non-GAAP) | $150M (est.) | $100M | +50% |
| EPS (Non-GAAP) | $0.45 (est.) | $0.30 | +50% |
Key Highlights
- Product revenue beat estimates, driven by increased customer count and higher average revenue per customer.
- Customers with over $1 million in annual spending grew 25%.
- The company launched several new products in AI and data analytics.
Guidance
Snowflake raised its full-year fiscal 2026 product revenue guidance to approximately $3.5 billion (estimated), up from the prior $3.4 billion. It also guided for higher operating margins due to improved efficiency.
Impact on Stock
SNOW shares jumped about 35% in pre-market trading, reflecting investor optimism over the beat and guidance raise. The stock is currently trading around $250 (estimated).
What This Means for Investors
Snowflake's results indicate continued strong demand for cloud data platforms, especially with accelerating AI adoption. The guidance raise boosts confidence in the company's ability to sustain growth. However, the stock's high valuation remains a factor to consider.
Frequently Asked Questions
Found this useful? Share it