Snowflake raises revenue forecast on 6 billion AWS deal
Snowflake increased its fiscal 2027 product revenue forecast to 5.84 billion dollars following strong enterprise adoption of its AI tools. The company also entered a five-year infrastructure partnership with Amazon Web Services to expand generative and agentic AI capabilities for its clients.
SNOWFLAKE INC raised its fiscal 2027 product revenue forecast to $5.84 billion and signed a $6 billion deal with AMAZON.COM INC. The updated outlook exceeds the previous $5.66 billion projection as enterprises shift data workloads to the cloud. Deepening integration with cloud giants positions Snowflake to capture recurring revenue from scaling generative AI projects.
Shares of Snowflake surged 36% during late evening trading following the announcement. The company reported first-quarter revenue of $1.39 billion, beating LSEG estimates of $1.32 billion. Second-quarter product revenue is expected to reach between $1.415 billion and $1.420 billion, exceeding the $1.37 billion average analyst estimate.
