S&P 500
7,458.70
-1.64%
Dow Jones
51,139.80
-0.91%
Nasdaq 100
29,413.80
-3.19%
Russell 2000
2,853.17
-2.70%
FTSE 100
10,370.80
-0.25%
Nikkei 225
65,113.20
-3.70%
Live Nasdaq Composite: Chip Selloff and Rising Yields Weigh on Nasdaq After Jobs Report Stuns
Snowflake

SNOW Q1 2027 Earnings

Reported May 27, 2026 at 4:07 PM ET · SEC Source

Q1 27 EPS

$0.39

Q1 27 Revenue

$1.39B

BEAT +5.13%

Est. $1.32B

vs S&P Since Q1 27

+36.0%

BEATING MARKET

SNOW +34.6% vs S&P -1.4%

Market Reaction

Did SNOW Beat Earnings? Q1 2027 Results

Snowflake Inc. Delivered a standout first quarter of fiscal 2027, beating consensus estimates on both the top and bottom lines as its accelerating AI strategy drove broad-based demand across its platform. The cloud data company posted revenue of $1.3… Read more Snowflake Inc. Delivered a standout first quarter of fiscal 2027, beating consensus estimates on both the top and bottom lines as its accelerating AI strategy drove broad-based demand across its platform. The cloud data company posted revenue of $1.39 billion, up 33.5% year over year and ahead of the $1.32 billion consensus, while non-GAAP diluted EPS of $0.39 cleared the $0.32 estimate by 21.95%, extending Snowflake's streak of beating consensus EPS estimates to four consecutive quarters. The clearest driver behind the results was AI adoption, with more than 13,600 accounts now using Snowflake AI capabilities and Snowflake Intelligence accounts more than doubling quarter over quarter. Remaining performance obligations grew 38% year over year to $9.21 billion, underlining the durability of that demand. Management raised full-year fiscal 2027 product revenue guidance to $5.84 billion, implying 31% growth, and lifted its non-GAAP operating margin outlook to 13.5%, signaling confidence that the AI momentum carrying Q1 has staying power heading into the rest of the year.

Key Takeaways

  • • AI-driven acceleration of core data platform consumption
  • • Growing adoption of first-party AI products including Cortex Code and Snowflake Intelligence
  • • Strong customer acquisition with 616 net new customers added, up 38% year-over-year
  • • Net revenue retention rate of 126%
  • • 779 customers with trailing 12-month product revenue greater than $1 million, up 29% year-over-year

SNOW Forward Guidance & Outlook

For Q2 FY27, Snowflake expects product revenue of $1,415 million to $1,420 million (approximately 30% year-over-year growth), non-GAAP operating margin of 12.5%, and non-GAAP diluted weighted-average shares of 375 million. For the full year FY27, the company raised product revenue guidance to $5,840 million (31% year-over-year growth), up from prior guidance of $5,660 million (27% growth). Full-year non-GAAP product gross margin is expected at 75.0%, non-GAAP operating margin was raised to 13.5% (from 12.5%), and non-GAAP adjusted free cash flow margin is guided at 23.0%.

24/7 Wall St

SNOW YoY Financials

Q1 2027 vs Q1 2026, source: SEC Filings

24/7 Wall St

SNOW Revenue by Segment

With YoY comparisons, source: SEC Filings

Q4 22 Q1 27

“Snowflake delivered a milestone quarter, with product revenue of $1.33 billion, up 34% year-over-year, marking the strongest sequential dollar growth in our history. 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.”

— Sridhar Ramaswamy, Q1 2027 Earnings Press Release

Back to SNOW Stock Page