Cloud data platform giant Snowflake has hit a major milestone, surpassing $1 billion in revenue in a single quarter for the very first time.
Reporting $1.04 billion for the first quarter of fiscal 2026, the company posted a 26% increase compared to the same period last year, beating market expectations.
Snowflake’s AI Push Powers Record Revenue Growth
This impressive growth is driven by Snowflake’s strategic investments in artificial intelligence and advanced data analytics, enabling customers to unlock insights and value from their data faster than ever.
Although Snowflake reported a net loss of $430 million, it exceeded earnings expectations with adjusted earnings per share of 24 cents.
The loss is largely due to continued spending on product innovation and expanding AI capabilities. Looking forward, Snowflake raised its full year product revenue guidance to $4.325 billion, up from an earlier estimate of $4.28 billion.
The company expects Q2 revenue to range between $1.035 billion and $1.04 billion, signaling steady momentum. Investors reacted positively, pushing Snowflake’s shares up 12%, reaching their highest level since early 2024.
The CEO highlighted that AI remains central to the company’s growth plans and innovation roadmap. Snowflake’s milestone reflects the booming demand for AI powered data platforms that help businesses quickly analyze massive datasets and gain a competitive edge.
As digital transformation accelerates, Snowflake’s leadership in cloud data solutions is more relevant than ever.
