Cloud data platforms stories

Sep 2, 2026

Snowflake shares surge 22% on strong earnings despite bookings miss

Snowflake's stock jumped 22% in after-hours trading following second quarter fiscal 2027 results that beat expectations on revenue, profit, and guidance. However, one metric—bookings—fell short of analyst expectations, raising questions about future growth momentum.

Sep 2, 20263 sources

Top claims

▪Snowflake's CoCo artificial intelligence coding assistant reached 9,100 accounts, adding more than 2,000 accounts during the fiscal second quarter ending July 31, 2026.
▪Snowflake stated in its earnings release that remaining performance obligations are not necessarily indicative of future product revenue growth because the metric does not account for the timing of customer consumption.
▪Snowflake reported non-GAAP operating income of $237.0 million, representing a 15.3% margin, and non-GAAP net income of $235.3 million for the fiscal second quarter ending July 31, 2026.

Subtopics

Earnings reports1 Enterprise software1 Revenue growth1 Stock market performance1

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