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Snowflake now has over 11,000 customers, and 580 of those have contributed to more than $1 million in revenue each on a trailing 12-month basis, according to the company.
Shares of Snowflake Inc. (SNOW) ripped more than 9% in after-market hours on Wednesday after a 1% rise in regular trade as the company’s fourth-quarter earnings surpassed Wall Street expectations.
Snowflake reported earnings per share (EPS) of $0.30 in Q4, far ahead of the estimated $0.18. The company’s revenue came in at $986.7 million, ahead of an expected $956.9 million and surging more than 27% year-on-year (YoY).
The company reported that it now has 580 clients with a trailing 12-month product revenue higher than $1 million, rising 27% YoY.
“More than 11,000 customers are already betting their business on our easy-to-use, efficient, and trusted platform. We see tremendous opportunities ahead to support our customers throughout their end-to-end data lifecycle,” said CEO Sridhar Ramaswamy.
After the earnings announcement, Snowflake revealed that it has strengthened its partnership with Microsoft and OpenAI to enable enterprises to build AI-powered apps and agents using the company’s Azure OpenAI service.
As a result, the latest OpenAI models will be available to Snowflake clients on Microsoft’s Azure platform.
“We’re expanding our long-standing partnership with Microsoft to deliver the best of OpenAI’s innovations directly to our customers, further advancing our promise to bring easy, efficient, and trusted AI to enterprises around the world,” said Christian Kleinerman, EVP of Product, Snowflake.
Retail sentiment around the Snowflake stock soared on Stocktwits, entering the ‘extremely bullish’ (85/100) territory from ‘bullish’ a day ago.
Message volumes rose five-fold in the last 24 hours, showing a rise in retail interest in the stock following Snowflake’s earnings and partnership announcements.
One user expects a 10% rally on Thursday, while another thinks it is “only the beginning.”
Snowflake’s stock has gained more than 7.6% in 2025 so far, but its one-year performance has been worse, with a 29% decline.
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