Snowflake Inc (NYSE:SNOW) shares were up in Thursday’s early deals after the data company surpassed analyst forecasts with its second-quarter results.
It posted revenue of $674 million, up 36% year-over-year, and earnings of $0.25 per share, beating analyst projections $662 million and $0.10 respectively.
Product revenue (customers using Snowflake's software to store data) increased 37% year over year to $642 million.
Snowflake maintained its guidance for fiscal 2024, calling for $2.6 billion in sales for the 12-month period ending January 2024. That’s lower than the $2.76 billion expected on Wall Street.
In early premarket deals the stock was up nearly 4%, up $6.04 trading at $161.74.