Pivotal Point Tracking Snowflake (SNOW): AI Data Platform Raises Forecast After Record Quarter

Snowflake provides companies with a scalable platform for data analytics and AI applications. On May 27, after US market close, the company presented its figures for Q1 2027. Total revenue rose by 33% year-over-year to $1.39 billion, driven by product revenues of $1.33 billion (+34%). Adjusted earnings per share increased by 62.5% to $0.39. Additionally, contractual revenue backlog climbed by 38% to $9.21 billion. Consequently, the annual forecast for product revenues was raised from $5.66 billion to $5.84 billion. The company is benefiting doubly...