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Sridhar Ramaswamy leads Snowflake as the company reports second-quarter earnings and revenue that beat Wall Street targets

Sridhar Ramaswamy, the CEO of Snowflake, oversaw the reporting of second-quarter results that exceeded market expectations. The enterprise software maker reported a 35% year-over-year revenue increase to $1.55 billion. The company also recorded a net loss of $191.7 million, which was smaller than the net loss of $297.9 million reported in the same period a year ago. Snowflake reported adjusted earnings per share of $0.62 for the fiscal 2027 second quarter. Product revenue growth accelerated for the third consecutive quarter. The administration announced that AI products accounted for roughly half of the growth acceleration this quarter. Tools such as Cortex and CoWork were noted for rapid customer adoption. The company raised its full-year product revenue guidance to $6.07 billion, up from the $5.84 billion projected in May. Snowflake also increased its forecast for the adjusted operating margin to 14.5%.

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