Snowflake shares jump 22.66% to $377.19 after earnings beat estimates

  • Snowflake reported second-quarter earnings and revenue above analyst expectations.
  • Snowflake posted 62 cents in adjusted earnings per share and $1.55 billion in revenue.
  • Snowflake raised full-year product revenue guidance after the quarterly results.

Snowflake (SNOW) shares rose 22.66% during trading on September 3 to $377.19, according to Binance market data cited by PANews. The move followed second-quarter adjusted earnings of 62 cents per share and revenue of $1.55 billion, beating LSEG analyst expectations of 45 cents and $1.48 billion, respectively. Snowflake also raised its full-year product revenue guidance, while shares of Datadog, ServiceNow and Salesforce gained alongside the broader software sector.

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