Snowflake Stock Soars as AI Demand Boosts Results, Outlook
1. Snowflake exceeded profit and sales estimates, boosting market confidence. 2. Company adds 48 customers with $1 million-plus revenue in the last quarter. 3. Full-year product revenue guidance raised to $4.40 billion from $4.33 billion. 4. Net revenue retention rate reaches 125%, indicating strong customer loyalty. 5. Shares surged 14% in premarket trading following the positive earnings report.