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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’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 cited analyst consensus.
Q2 revenue was $1.55 billion versus $1.48 billion expected; adjusted EPS was 62 cents versus 45 cents.
Full-year product-revenue guidance rose $230 million to $6.07 billion; adjusted operating margin increased to 14.5%.
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.
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 increased its full-year product-revenue forecast by $230 million.
Snowflake raised its adjusted operating-margin forecast by one percentage 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.
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.
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