Cloud data platform provider Snowflake (NYSE:SNOW) will be reporting earnings this Wednesday after the bell. Here’s what investors should know.
Snowflake beat analysts’ revenue expectations by 3.4% last quarter, reporting revenues of $1.04 billion, up 25.7% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ EBITDA estimates but a miss of analysts’ billings estimates. It added 26 enterprise customers paying more than $1 million annually to reach a total of 606.
Is Snowflake a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Snowflake’s revenue to grow 25.4% year on year to $1.09 billion, slowing from the 28.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.27 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Snowflake has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.9% on average.
Looking at Snowflake’s peers in the data and analytics software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Commvault delivered year-on-year revenue growth of 25.5%, beating analysts’ expectations by 5.2%, and DigitalOcean reported revenues up 13.6%, topping estimates by 1%. Commvault traded up 18.2% following the results while DigitalOcean was also up 34.9%.
Read our full analysis of Commvault’s results here and DigitalOcean’s results here.
Questions about potential tariffs and corporate tax changes have caused much volatility in 2025. While some of the data and analytics software stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 5.3% on average over the last month. Snowflake is down 10.7% during the same time and is heading into earnings with an average analyst price target of $233.90 (compared to the current share price of $195.24).
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