From CNBC: 2025-05-22 12:12:00

Snowflake shares surged 12% to their highest level since early last year following better-than-expected quarterly results. Revenue in the fiscal first quarter of 2026 jumped 26% to $1.04 billion, exceeding analyst estimates. Snowflake reported a net loss of $430 million, widening from a year earlier. The company has added AI services, reaching 11,000 customers.

Analysts noted the significance of two new $100 million deals that closed in the quarter, easing churn concerns. Cantor reiterated a buy recommendation, expecting Snowflake to continue executing a beat-and-raise strategy. Shares are up 29% for the year, outperforming the Nasdaq which is down 2%. Snowflake went public in 2020 and recorded over $1 billion in sales in a quarter for the first time.



Read more at CNBC:: Snowflake shares soar as revenue tops $1 billion for first time