Snowflake is set to report fiscal Q2 2026 results with consensus revenue of $1.09 billion and normalized EPS of $0.27, implying roughly 25% year-over-year revenue growth and a near 50% EPS increase. Snowflake's AI Data Cloud and Cortex show momentum with over 5,200 accounts using AI weekly and enterprise customers embedding Snowflake AI into workflows. Snowpark and Dynamic Tables are driving adoption for unstructured data, ML workloads, and pipelines. Government expansion includes Snowflake Public Sector, provisional DoD authorization, and sovereign cloud opportunities. Bookings and consumption remain strong with RPO up 34% and notable $100M+ renewals amid hyperscaler competition.
Snowflake ( NASDAQ: SNOW) will report fiscal Q2 2026 earnings after the close. The stock has been a lightning rod for the AI data platform trade, swinging double-digits after recent earnings as investors debate whether Snowflake can sustain growth while scaling profitability. After posting $1.04 billion in Q1 revenue (+26% YoY) and raising full-year guidance, expectations remain high heading into tonight's results.
What to Expect When Snowflake Reports Tonight Revenue: $1.09 billion EPS (Normalized): $0.27 FY 2026 Revenue: $4.53 billion FY 2026 EPS: $1.11 FY 2027 Revenue: $5.58 billion FY 2027 EPS: $1.58 That implies +25% YoY revenue growth this quarter, with EPS set to jump nearly 50% YoY.
AI Data Cloud & Cortex Momentum- Over 5,200 accounts using AI weekly; Cortex has evolved from niche to enterprise core. Customers like Kraft Heinz, Siemens, and Samsung Ads are embedding Snowflake AI into critical workflows. Snowpark, Dynamic Tables & Data Engineering- Strong adoption across unstructured data, ML workloads, and pipelines. EVP Kleinerman highlighted Snowpark's role in unlocking new analytics and AI applications.
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