Reported about 12 hours ago
Cloud analytics company Snowflake has increased its fiscal 2026 product revenue forecast to $4.40 billion, up from $4.33 billion, driven by strong demand for AI and data analytics services. Following this announcement, shares rose 13% in extended trading. The company is capitalizing on the growing need for enterprises to modernize their data infrastructure and simplify their AI services through its cloud-agnostic platform, particularly benefiting from significant growth in Microsoft's Azure cloud services.
Source: YAHOO