Update: Snowflake Fiscal Q2 Adjusted Earnings, Revenue Rise; Shares Jump Pre-Bell

05:31 AM EDT, 09/03/2026 (MT Newswires) -- (Updates with the latest stock price movement in the headline and the first paragraph.) Snowflake (SNOW) shares were up 23% in premarket activity Thursday after the company overnight reported better-than-expected fiscal Q2 results and raised its full-year product revenue guidance. The company posted fiscal Q2 adjusted net income late Wednesday of $0.62 per diluted share, up from $0.35 a year earlier. Analysts polled by FactSet expected $0.45. Revenue for the quarter ended July 31 rose to $1.547 billion from $1.145 billion a year earlier. Analysts expected $1.48 billion. The company expects fiscal Q3 product revenue of $1.588 billion to $1.593 billion. Analysts expect $1.50 billion. Snowflake said it now expects fiscal 2027 product revenue of $6.07 billion, up from its prior forecast of $5.84 billion. Analysts expect $5.85 billion.