According to Reuters via Investing.com, Snowflake shares rose more than 20% in extended trading on September 2 after the cloud-data company beat earnings expectations and raised its fiscal 2027 product-revenue outlook to $6.07 billion. Adjusted earnings were $0.62 a share, compared with the $0.45 analyst consensus compiled by LSEG. Snowflake reported accelerating adoption of its AI offerings, including its CoCo and CoWork products.
FY2027 product-revenue target rises to $6.07 billion
Snowflake lifted its fiscal 2027 product-revenue target from $5.84 billion to $6.07 billion. The new target implies 36% year-over-year growth, according to the company’s September 2 SEC filing.
Product revenue is the central metric in Snowflake’s updated outlook, and the higher target was announced alongside second-quarter growth that ran slightly ahead of the full-year rate implied by the guidance.
Second-quarter product revenue grew 37% to $1.492 billion
For the second quarter of fiscal 2027, Snowflake reported product revenue of $1.492 billion, up 37% from a year earlier. Total revenue rose 35% to $1.55 billion, the company said in the filing.
The quarterly product-revenue growth rate was one percentage point above the 36% growth embedded in Snowflake’s updated fiscal-year target. Its $0.62 adjusted earnings per share also exceeded the $0.45 consensus cited by Reuters via Investing.com.
Official Q2 FY27 infographic showing 37% product-revenue growth, $1.49 billion product revenue, 126% net revenue retention, and AI adoption metrics. — Source: Snowflake Investor Relations
CoCo and CoWork account adoption accelerates
CoCo surpassed 9,100 accounts and CoWork reached 5,800 during the quarter, Snowflake said, describing AI adoption as accelerated.
The company presented those figures as evidence of demand for its AI products alongside its revised forecast. It did not separately quantify how much revenue came from CoCo or CoWork.
