Snowflake (SNOW) Soars 36% as AI Propels Q1 Earnings

Snowflake Inc. (NYSE:SNOW) is one of the 11 Stocks Racking Up Monstrous Gains.

Snowflake saw its share prices climb by 36.48 percent on Thursday to close at $239.20 apiece, as investors cheered the strong results of its earnings performance in the first quarter of fiscal year 2027.

In an updated report, the company said that it slashed its net loss during the period by 31 percent to $295 million from $430 million in the same period last year, thanks to strong momentum from the artificial intelligence industry.

Photo by Tima Miroshnichenko on Pexels

Revenues also increased by 33.6 percent to $1.39 billion from $1.04 billion year-on-year.

“AI continues to be a powerful tailwind for Snowflake, and Q1 marks a clear inflection point in that journey. With Cortex Code and Snowflake Intelligence, we are extending from the trusted foundation for enterprise data and context to become the control plane for the Agentic Enterprise. We are seeing strong momentum from both AI-driven acceleration of our core platform and growing adoption of our first-party AI products, positioning Snowflake to lead in this new era,” said Snowflake Inc. (NYSE:SNOW) CEO Sridhar Ramaswamy.

For the second quarter of the year, the company is targeting to generate $1.415 billion to $1.42 billion in revenues, or an implied growth of 30 percent year-on-year.

For the full fiscal year, Snowflake Inc. (NYSE:SNOW) also raised its product revenue outlook to $5.84 billion, or an implied 31 percent growth, versus its previous guidance of $5.66 billion, or 27 percent improvement year-on-year.

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