Snowflake Q2 2027: AI Surge Lifts EPS Past Estimates
As seen on the 24/7 Wall St. homepage on September 2, 2026.
The 4% selloff into this report just got answered: management raised full-year product revenue guidance to $6.07 billion from $5.84 billion, with AI consumption driving a third straight quarter of accelerating growth. Non-GAAP operating margin widened to 15.3% from 11% a year ago.
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Snowflake posted adjusted EPS of $0.62 for its fiscal second quarter of 2027, beating expectations for the fifth consecutive quarter.
Product revenue grew 37% year-over-year, a third straight quarter of accelerating growth, and management raised full-year fiscal 2027 product revenue guidance to $6.07 billion.
Non-GAAP operating margin widened to 15.3% from 11% a year ago, adding a profitability narrative to what has largely been a growth story.
Remaining performance obligations, a forward revenue signal, grew 30% year-over-year, and net revenue retention held at 126%, meaning existing customers keep expanding their spending. For Q3, management guided for 37% to 38% year-over-year product revenue growth, so the acceleration is expected to hold.
Mentioned: SNOW