Snowflake raises annual product revenue forecast
The company's shares rose 6% to $190.09 in extended trading after it topped first-quarter results estimates and forecast current-quarter revenue above expectations. Snowflake's push to integrate artificial intelligence into its cloud through partnerships with OpenAI and Anthropic allows customers to build and run more advanced AI models to streamline large swathes of data. The company forecast product revenue in the range of $1.035 billion to $1.040 billion for the current quarter, compared with estimates of $1.021 billion, according to data compiled by LSEG.
Reuters
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23 minutes ago
