Shares of AI data cloud company Snowflake rose 22 percent in after-hours trading on Sept. 2 on quarterly results and an earnings outlook that beat market expectations.
CNBC reported that Snowflake topped expectations for both results and guidance.
Snowflake's fiscal second-quarter revenue rose 35 percent from a year earlier. Net loss was $191.7 million, or 55 cents per share. That compared with a net loss of $297.9 million, or 89 cents per share, in the same period a year earlier.
Growth in the AI coding agent "Coco" also helped drive improved results. Coco accounts now total 9,100, up by more than 2,000 in this quarter alone.
Snowflake forecast third-quarter product revenue of $1.59 billion. That was above the $1.5 billion analyst estimate compiled by StreetAccount. Snowflake also raised its annual product revenue forecast to $6.07 billion from $5.84 billion in May. It lifted its adjusted operating margin forecast to 14.5 percent from 13.5 percent.
Snowflake shares are up 39 percent so far this year. The S&P 500 index has risen about 12 percent over the same period.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr