Snowflake shares soar to highest level in over a year as revenue tops $1 billion for first time

Snowflake Inc. signage on the floor of the New York Stock Exchange in New York, US, on Jan. 2, 2025. Snowflake shares jumped 12% on Thursday, climbing to their highest level since early last year after the data analytics company reported better-than-expected quarterly results. Revenue in the fiscal first quarter of 2026 jumped 26% to $1.04 billion from $828.7 million a year earlier, and topped the $1.01 billion average LSEG estimate. It's the first time the company, which went public in 2020, has recorded more than $1 billion in sales in a quarter. Adjusted earnings per share of 24 cents exceeded the 21-cent average analyst estimate, according to LSEG. Snowflake reported a net loss of $430 million, a loss of $1.29 a share, widening from a loss of $317 million, or 95 cents a share, a year earlier. Snowflake has been adding artificial intelligence services into its cloud-based data analytics platform, which the company said in its earning release late Wednesday has helped it reach 11 ... Read full article.