$SNOW Beats Q2 Estimates and Raises FY27 Product Revenue Outlook

$SNOW delivered a strong Q2 earnings report, beating Wall Street expectations across both revenue and adjusted earnings.
Revenue came in at $1.55 billion versus estimates of $1.48 billion.
Adjusted EPS reached $0.62, well above the $0.45 consensus estimate.
Free cash flow was the main weaker point, coming in at $83 million compared with expectations of $107 million.
Net revenue retention remained strong at 126%, while remaining performance obligations reached $9.0 billion, up 30% year over year.
$SNOW also raised its FY27 product revenue outlook to $6.1 billion versus the $5.8 billion analysts had expected.
That guidance implies roughly 36% year-over-year product revenue growth, reinforcing the strength of demand across Snowflake’s cloud data and AI platform.
The combination of stronger revenue, solid customer retention and accelerating contracted demand suggests $SNOW continues to benefit from rising enterprise spending on data infrastructure and AI.