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00:02Snowflake reported second quarter adjusted earnings of $0.62 per share and revenue of
00:06$1.55 billion, beating analyst estimates of $0.45 per share and $1.48 billion, according
00:13to Benzinga.
00:14Revenue rose 35% year-over-year, while product revenue increased 37% to $1.49 billion.
00:22Remaining performance obligations climbed 30% to $9 billion, and Snowflake ended the
00:29quarter with 828 customers, generating more than $1 million in trailing 12-month product
00:35revenue.
00:35Snowflake CEO Sridhar Ramaswamy said AI is driving customer adoption, user growth, new workloads,
00:42and increased platform usage across the business.
00:45The AI data cloud company expects third quarter product revenue between $1.588 billion and
00:51$1.593 billion, representing growth of about 37.5%.
00:56Shares jumped 22.78% to $1.375.50 in Wednesday after-hours trading.
01:05For all things money, visit Benzinga.com.
