Snowflake Inc. (SNOW) Stock Surges Over 10% on Strong Q1 Results and Upbeat Guidance

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2025-05-22 16:32:02

Snowflake Inc. (NYSE: SNOW) shares jumped 10.61% to $198.12 by mid-morning trading after the data cloud company reported robust Q1 2026 earnings. Product revenue climbed 26% year-over-year to $997 million, while net revenue retention remained strong at 124%. The company added 451 net new customers, a 19% increase from the prior year.

Remaining performance obligations grew 34% to $6.7 billion, signaling sustained demand. Snowflake’s FY26 revenue guidance of $4.325 billion, representing 25% annual growth, exceeded analyst expectations. The results demonstrate Snowflake’s ability to maintain momentum despite macroeconomic headwinds in the tech sector.

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