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Snowflake Lifts Product-Revenue Forecast After Q2 Beat; CoCo Hits 9,100 Accounts

The higher targets give Snowflake a clearer near-term financial bar. CoCo’s account growth adds an AI adoption signal, though the disclosed figure measures reach rather than a direct financial contribution.

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Snowflake Lifts Product-Revenue Forecast After Q2 Beat; CoCo Hits 9,100 Accounts
Snowflake Lifts Product-Revenue Forecast After Q2 Beat; CoCo Hits 9,100 Accounts
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Snowflake shares jumped 22% in extended trading after the data-platform company beat fiscal second-quarter expectations and raised its full-year targets. Revenue for fiscal Q2 2027 came in at 1.55 billion dollars, versus the 1.48 billion expected. Adjusted earnings were 62 cents a share, ahead of the 45-cent estimate, while revenue grew 35% from a year earlier. The reported results also show some improvement in the underlying loss. Snowflake lost 191.7 million dollars, or 55 cents a share, compared with a 297.9 million-dollar loss, or 89 cents a share, in the year-earlier quarter. Those reported figures are separate from the adjusted earnings measure. Management raised its full-year product-revenue forecast by 230 million dollars, to 6.07 billion, and lifted its adjusted operating-margin target from 13.5% to 14.5%. For fiscal Q3, it expects 1.59 billion dollars in product revenue, above the cited analyst consensus of 1.50 billion. That forecast is a target, not revenue already delivered, so it becomes the next clear operating test. There’s also an AI adoption signal: CoCo, Snowflake’s coding agent, added more than 2,000 accounts during the quarter and reached 9,100. But the company disclosed no CoCo revenue, so the figure measures reach rather than financial contribution. The key question now is whether Snowflake can deliver that 1.59 billion-dollar Q3 product-revenue target after this stronger guide.

Story brief

3 key points

Snowflake’s fiscal Q2 2027 performance strengthened its case that AI demand is translating into broader platform growth: revenue reached $1.55 billion, and management lifted its annual product-revenue and adjusted-margin targets. The company also reported 9,100 CoCo coding-agent accounts, though it has not disclosed CoCo revenue. The key near-term test is fiscal Q3 product revenue of $1.59 billion, which exceeds the...

  1. 01

    Q2 revenue was $1.55 billion versus $1.48 billion expected; adjusted EPS was 62 cents versus 45 cents.

  2. 02

    Full-year product-revenue guidance rose $230 million to $6.07 billion; adjusted operating margin increased to 14.5%.

  3. 03

    CoCo added over 2,000 accounts during Q2, reaching 9,100, but Snowflake disclosed no product revenue for it.

Snowflake raised its full-year product-revenue and adjusted operating-margin forecasts after surpassing Wall Street expectations in its fiscal second quarter. Shares rose 22% in extended trading, while Snowflake said its CoCo AI coding agent had reached 9,100 accounts.

The quarter cleared both financial benchmarks

Snowflake reported $1.55 billion in fiscal Q2 2027 revenue, above the $1.48 billion LSEG consensus estimate. Adjusted earnings came in at 62 cents a share, compared with 45 cents expected. Revenue increased 35% from a year earlier in the quarter ended July 31.

The company still recorded a net loss of $191.7 million, or 55 cents per share. That was narrower than its $297.9 million loss, or 89 cents per share, in the year-earlier period. The reported loss and adjusted earnings are distinct measures presented in the quarterly results.

Snowflake’s revised full-year targets

Product-revenue forecast
$5.84 billion→$6.07 billion
USD billions

Snowflake increased its full-year product-revenue forecast by $230 million.

Adjusted operating-margin forecast
13.5%→14.5%
percent

Snowflake raised its adjusted operating-margin forecast by one percentage point.

A higher guide becomes the next proof point

For fiscal Q3, Snowflake forecast $1.59 billion in product revenue, above the $1.50 billion analyst consensus cited for the period. It also lifted its full-year product-revenue forecast to $6.07 billion from $5.84 billion and its adjusted operating-margin forecast to 14.5% from 13.5%.

The outlook is management’s forecast, not completed revenue. The immediate delivery test is whether Snowflake reaches that $1.59 billion Q3 product-revenue target, after setting a guide above the analyst consensus cited for the period.

CoCo adds a measure of AI reach

Snowflake said CoCo added more than 2,000 accounts during the quarter, bringing the AI coding agent to 9,100 accounts. That is a concrete adoption measure alongside the financial results, but Snowflake did not attach a revenue figure to CoCo in the disclosed results.

Before the after-hours reaction, Snowflake shares had gained 39% in 2026 through Wednesday’s close, while the S&P 500 had gained about 12% over the same period. The stronger guide now gives investors a specific operating target against that elevated market response.

Sources

  1. cnbc.comSnowflake spikes 22% on healthy results and AI coding momentum

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