Why Is Snowflake (SNOW) Stock Up Today?
A double beat measured +5.91% on the print — and the run to ~22% built as the call added the guidance raise.
- Adjusted EPS $0.62 vs $0.45; revenue $1.547 billion, product revenue up 37%; guidance raised.
- Measured from the 20:06 UTC print: +5.91% in fifteen minutes from $355.61.
- The fuller ~22% after-hours move built over the call, on the guidance raise and AI-consumption detail.
Reaction by asset (real prices)
| Asset | 2m before | At release | +1m | +15m | +1m % | +15m % | Vol vs normal |
|---|---|---|---|---|---|---|---|
| SNOW | 355.61 | 355.61 | 361.01 | 376.62 | +1.52% | +5.91% | — |
Snowflake beat and raised, and the market paid for it in two stages. The data-cloud company reported fiscal Q2 2027 adjusted EPS of $0.62 against a $0.45 estimate on revenue of $1.547 billion, with product revenue up 37%. Measured from the instant the results crossed our tape at 20:06 UTC on Wednesday 2 September 2026, the stock moved +5.91% in the first fifteen minutes from $355.61 — and coverage put the fuller after-hours gain near 22% as the earnings call added detail.
Key points
- Adjusted EPS $0.62 vs $0.45 expected; revenue $1.547 billion vs $1.482 billion, product revenue up 37%.
- Fiscal 2027 product-revenue outlook raised to about $6.07 billion, with the operating-margin forecast lifted.
- Measured reaction to the print: +5.91% in fifteen minutes; the fuller run to about +22% built over the call.
Why the move came in two waves
The first fifteen minutes priced the numbers a reader can see instantly — a clean double beat with product revenue growing 37%. The larger after-hours move built as the call supplied what the headline could not: a raised full-year product-revenue outlook near $6.07 billion, a lifted margin forecast, and the detail that AI workloads drove about half of the growth acceleration. Management pointed to the CoCo coding agent reaching 9,100 accounts after adding more than 2,000 in the quarter. The measured gap between the +5.91% print reaction and the roughly +22% session move is the value the market assigned to the guidance and the AI-consumption story on top of the quarter itself.
What a beat-and-raise on AI consumption signals
Snowflake's model is consumption-based, so an accelerating AI-workload mix is not just a product-line win — it lifts the metering on the entire platform. That is the difference between a beat that confirms a price and a beat that expands it: the raised outlook says the company expects the consumption to compound, and the second wave of the reaction is the market agreeing. The measured record now shows Snowflake's beat producing one of the larger positive earnings reactions in the software cohort this season.
Why is Snowflake (SNOW) stock up today?
It beat on its fiscal Q2 2027 report and raised guidance: adjusted EPS of $0.62 against a $0.45 estimate on revenue of $1.547 billion, with product revenue up 37%. Measured from the instant the print crossed at 20:06 UTC, the stock moved +5.91% in fifteen minutes from $355.61; coverage put the fuller after-hours gain near 22% as the call progressed.
What did Snowflake report for fiscal Q2 2027?
Adjusted EPS of $0.62 (estimate $0.45) and revenue of $1.547 billion (estimate $1.482 billion), with product revenue up 37% year over year. The company raised its fiscal 2027 product-revenue outlook to about $6.07 billion and lifted its operating-margin forecast.
How much did AI contribute to Snowflake's quarter?
Management said AI workloads drove about half of the growth acceleration, pointing to the CoCo coding agent, which reached 9,100 accounts after adding more than 2,000 in the quarter, alongside broader consumption of the core platform.
Did the earnings print capture the whole move?
No — and the split is the interesting part. The results headline itself measured +5.91% in the first fifteen minutes; the run to roughly +22% built as the earnings call added the guidance raise and AI-consumption detail. The first print was the down payment, the call was the rest.
How these numbers were measured
Reaction figures are MoveSurge's own measurement: the price captured at the instant the headline crossed our tape, then one and fifteen minutes later. Trial and financial details are attributed to the company announcement and coverage. The pipeline is described on our editorial standards page.
Sources
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Snowflake (SNOW) Q2 earnings report 2027
— CNBC
Q2 FY2027 product revenue rose 37% to $1.49 billion, adjusted EPS of $0.62 beat, and the full-year product-revenue outlook was raised to $6.07 billion.
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Snowflake Q2 Earnings Call Highlights
— Yahoo Finance
AI workloads drove about half of the growth acceleration; the CoCo coding agent reached 9,100 accounts after adding more than 2,000 in the quarter.
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