Snowflake Inc. (SNOW) shares soared 34.54 percent to $235.79, up $60.53 on Thursday, after the cloud-based AI data platform company reported a narrower first-quarter loss, strong revenue growth, and raised its full-year fiscal 2027 guidance amid accelerating AI demand.
The stock is currently trading at $235.79, compared with a previous close of $175.26 on the New York Stock Exchange. It opened at $237.00 and traded between $229.49 and $240.45 during the session, with volume surging to 21.91 million shares versus average daily volume of 6.95 million shares.
Snowflake reported a first-quarter net loss attributable to the company of $295.57 million, or $0.86 per share, compared with a loss of $430.09 million, or $1.29 per share, a year earlier. Revenue climbed 33% to $1.39 billion from $1.04 billion in the prior-year quarter, while product revenue increased 34% year over year to $1.33 billion.
For the second quarter, the company expects product revenue between $1.415 billion and $1.420 billion, representing approximately 30% year-over-year growth. Snowflake also raised its fiscal 2027 product revenue outlook to $5.84 billion, reflecting expected growth of 31% year over year, up from prior guidance of $5.66 billion.
Snowflake shares have traded between $118.30 and $280.67 over the past 52 weeks.
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