Snowflake (SNOW) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Snowflake Inc. reported $1.14 billion in revenue for the quarter ended July 2025, marking a year-over-year increase of 31.8% and exceeding the Zacks Consensus Estimate of $1.09 billion by 5.51% [1] - The company achieved an EPS of $0.35, up from $0.18 a year ago, representing a surprise of 34.62% compared to the consensus estimate of $0.26 [1] Financial Performance Metrics - Remaining performance obligations stood at $6.9 billion, slightly above the average estimate of $6.84 billion from four analysts [4] - The number of customers with trailing 12-month product revenue greater than $1 million increased to 654, surpassing the average estimate of 634 from two analysts [4] - Product revenue was reported at $1.09 billion, exceeding the average estimate of $1.04 billion from 11 analysts, reflecting a year-over-year change of 31.5% [4] - Revenue from professional services and other sources was $54.47 million, above the average estimate of $45.82 million, with a year-over-year increase of 37.7% [4] - Non-GAAP product gross profit reached $833.63 million, exceeding the average estimate of $780.76 million from nine analysts [4] - GAAP product gross profit was reported at $788.18 million, higher than the average estimate of $744.86 million from two analysts [4] Stock Performance - Over the past month, Snowflake's shares have returned -11.2%, contrasting with the Zacks S&P 500 composite's increase of 1.3% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]