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The cloud data company raised its full-year product revenue guidance to $6.07 billion, up from a prior forecast of $5.84 billion
Screenshot: Snowflake
Snowflake $SNOW reported second-quarter revenue of $1.55 billion on Wednesday, beating analyst expectations and prompting the company to raise its full-year revenue forecast, sending its stock up 22% in after-hours trading.
Product revenue, the company's key metric, reached $1.49 billion in the quarter ended July 31, up 37% year over year, the company said. That marked the third consecutive quarter of product revenue growth acceleration, according to the company. Adjusted earnings per share came in at 62 cents. Analysts had expected revenue of $1.48 billion and adjusted earnings of 45 cents per share, according to CNBC.
