Snowflake (SNOW)

[winston]

not vested

Cloud data analytics company Snowflake beat second-quarter revenue and profit estimates on Wednesday, boosted by rising data management and storage needs of businesses amid a surge in the use of generative artificial intelligence.

The company's revenue rose about 36% to $674 million for the quarter ended July 31, above analysts' average estimate of $662.2 million, according to Refinitiv data.

Excluding items, the second-quarter adjusted profit per share was 22 cents, compared with analysts' average estimate of 10 cents.

Shares of the company rose more than 3% in trading after the bell.

Source: Phillips