Snowflake stock surges 30% after Q1 earnings beat and AI platform acquisition
By
Paige Oamek
Baker's choice. Dense with flavour, light on filler.
Summary
Snowflake (SNOW) shares surged ~30% in after-hours trading after the company beat Wall Street's Q1 earnings expectations, with revenue up 33% year-over-year. The cloud-based database company also announced an acquisition of an AI agent platform, reinforcing its AI thesis. The stock jump would more than erase Snowflake's nearly 20% decline year-to-date if sustained.
Key quotes
· 3 pulledShares of Snowflake are surging after the company beat Wall Street's projections in its latest earnings report, delivering on its AI thesis, with Q1 revenue up 33%.
Snowflake stock soared 30% in after-hours trading.
It that move were to hold on Thursday, it would more than erase Snowflake's nearly 20% decline so far this year.
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