Prediction: Snowflake's Product Revenue Passes $8 Billion in Fiscal 2028
After a second guidance raise this year, the path to that milestone leans on one retention number holding up.
Overview
Snowflake (NYSE:SNOW) gave investors a lot to like on Wednesday. The data cloud specialist's fiscal 2027 second-quarter report featured a third straight quarter of accelerating growth, with a bigger push from its artificial intelligence (AI) products.
Shares jumped more than 20% in extended trading on the news. As of this writing, they trade at about $338.
Details
Management now expects about $6.07 billion of product revenue in fiscal 2027 (the year ending Jan. 31, 2027), or 36% year-over-year growth. It also lifted its full-year non-GAAP (adjusted) operating margin outlook to 14.5% from 13.5%. That's the second guidance raise this year. Snowflake opened the year forecasting 27% product revenue growth, raised the number in May, and now sits at 36%.
Source
Originally published at www.fool.com.
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