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Snowflake Inc. (SNOW) earnings date & stock reaction

Snowflake Inc. · IT

Snowflake Inc. earnings date & time

Next earningsWed, December 2 around 4:00 PM ET, after the closescheduled

Schedule

Korea time (KST)
Thu, December 3
Reporting pattern
12 of last 12 after close
Typical move
±15.2% · 12-report avg

What the market expects

Consensus EPS

$0.60Coming in above this counts as a beat

Year-ago quarter
$0.35→+71.4%
Guided revenue
$1.5B→$1.6B+2.8%
Full earnings calendarFrom an earnings calendar
Latest reportMay–Jul 2026 results· September 2, 2026 reported
EPS consensus $0.45 → $0.62 ▲ +38.7% beatRev $1.5B
Post-earnings price move
Next-day move
+16.6%
After 5 days
+7.8%
Price around earnings
Around this report
Sector peer Salesforce Inc. +22.6% next day (8/26)A same-industry peer, Salesforce Inc., reported within the 10 days before this one (7d earlier). How the market took it (next-day move +22.6%) is the best read on the sector mood. A beat that still fell means the bar was high, so this stock may face similar pressure.Down 7% into earningsIn the 3 trading days before this report, the stock moved more than usual. A pre-earnings run-up can mean expectations were already priced in, a drop can mean bad news was priced in early. Read the post-earnings reaction with that in mind.
Earnings callAccelerated product revenue growth and improved AI-driven profitability
“Q2 marks our third consecutive quarter of product revenue growth acceleration, driven by strength in both our core data platform and a meaningful step-up in AI revenue.”
· Brian Robins, CFO
“Importantly, we delivered this accelerating growth while expanding operating margin. Balancing growth with discipline remains a top priority, and we are raising our full-year product revenue growth guidance to 36% year-over-year.”
· Brian Robins, CFO
Positives
  • ▲Accelerated Product Revenue Growth
    • Product revenue for the quarter was $1.49 billion, up 37% vs last year.
    • This quarter marks the third consecutive quarter of product revenue growth acceleration.
  • ▲Raised Full-Year Outlook
    • The company raised its full-year product revenue growth outlook from 31% to 36% vs last year.
    • Full-year non-GAAP operating margin outlook was also increased from 13.5% to 14.5%.
  • ▲Expansion of Customer Base and RPO
    • Remaining performance obligations (RPO) reached $9.00 billion, up 30% vs last year.
    • Customers with trailing 12-month product revenue over $1 million grew to 828, up 27% vs last year.
Concerns
  • ▼Significant GAAP Operating Loss
    • GAAP operating loss for the quarter was $263 million, representing a -17.0% operating margin.
    • While non-GAAP results are profitable, the company continues to report substantial operating losses on a GAAP basis.
  • ▼Low Free Cash Flow Margin
    • Free cash flow for the quarter was $83.8 million, representing only 5.4% of revenue.
    • Adjusted free cash flow margin was 6.0%, indicating relatively low cash generation relative to total revenue.
Based on the Sep 2, 2026 earnings release. Quotes are verbatim.

Snowflake Inc. (SNOW) rose the day after earnings in 8 of its last 12 reports (67%), moving ±15.2% on average. It has fallen despite beating the consensus estimate 3 times.

Up next day
8/12
67%
Fell despite growth
2/12
Good earnings ignored
Price when beating
+8.1%
avg over 11 beats
Price when missing
-5.4%
avg over 1 misses
Avg earnings move
±15.2%
typical swing on earnings
Biggest single move
+36.5%
'26.5 · largest reaction
🔑What actually moves this stock?
What really matters here
Product revenue growth, NRR, and RPO
In finance terms: Product revenue · NRR · RPO
Growth · 제품매출 (YoY by quarter, latest right)
+25%
24-11
+27%
25-02
+27%
25-05
+30%
25-08
+29%
25-12
+27%
26-02
+29%
26-05
Holding steady · Growth is holding around +29%.
What to watch next report

When results drop, skip the EPS number. Check if the growth above holds or accelerates, and whether guidance beats expectations.

How this stock reacts to earnings

Traits seen across its recent earnings reactions

Good results usually push the stock up
Up the next day 8 of 11 beats (73%)
Tends to keep drifting the same way for days
Day-one direction continued · 58% of last 12
vs IT sector avg (192 peers)
This
+7.0%
Sector
+0.9%
Avg next-day reaction

Earnings number vs guidance: which drives it?

How often the beat/miss matched the actual price move

This stock mostly moves with the reported earnings number
Moved opposite to results 3 of last 12 times (25%)
3xBeat but fell
Even a beat sells off if guidance disappoints
0xMissed but rose
Even a miss rebounds if guidance reassures
Fell despite growth2/12

3/11 beats fell next day · watches Product revenue · NRR · RPO

Next-day reaction
  • Jul 2026 report+16.6%
  • Apr 2026 report+36.5%
  • Jan 2026 report+2.3%
  • Oct 2025 report-11.4%
  • Jul 2025 report+20.3%
  • Apr 2025 report+13.4%

Earnings timeline · bars = next-day move, ▲▼ = beat/miss

May–Jul 2026 results
Reported 2026-09-02
Next-day move
+16.6%
After 5 days +7.8%
EPS consensus $0.45 → $0.62 ▲ +38.7% beatRev $1.5B
Next-Q guidance+3%· ~$1.6B est.
Price around earnings
Around this report
Sector peer Salesforce Inc. +22.6% next day (8/26)A same-industry peer, Salesforce Inc., reported within the 10 days before this one (7d earlier). How the market took it (next-day move +22.6%) is the best read on the sector mood. A beat that still fell means the bar was high, so this stock may face similar pressure.Down 7% into earningsIn the 3 trading days before this report, the stock moved more than usual. A pre-earnings run-up can mean expectations were already priced in, a drop can mean bad news was priced in early. Read the post-earnings reaction with that in mind.

Earnings trend · last 12 quarters

EPS$0.62YoY +77%
'23.11'26.9
Revenue$1.5B
'23.11'26.9

Earnings history and price reaction

Snowflake Inc. across its last 12 earnings reports: EPS versus consensus, the move on the earnings day, and the cumulative move five trading days later.
Quarter endedReported (ET)vs market expectation (consensus)Earnings dayAfter 5 days
7/20262026-09-02+38.7%+16.6%+7.8%
4/20262026-05-27+21.9%+36.5%+37.7%
1/20262026-02-25+17.8%+2.3%-0.6%
10/20252025-12-03+12.5%-11.4%-18.3%
7/20252025-08-27+29.6%+20.3%+10.7%
4/20252025-05-21+13.2%+13.4%+12.9%

12 reports, quarters ending 10/2023 to 7/2026. The earnings-day move is the first trading day that reflects the report; the five-day figure is the cumulative move from that point.

Frequently asked questions

When is the next Snowflake Inc. earnings date?

The next Snowflake Inc. (SNOW) earnings report is expected Wed, December 2 around 4:00 PM ET, after the close. It comes from an earnings calendar and may not be a company-confirmed date; it updates automatically if it changes.

What is the consensus EPS forecast for Snowflake Inc.'s next earnings?

Analysts expect EPS of about $0.60 for Snowflake Inc. (SNOW). Coming in above that counts as a beat, below it a miss — though a beat does not guarantee the stock rises.

Does Snowflake Inc. (SNOW) stock usually go up after earnings?

Over the last 12 earnings reports, the stock rose on 8 of them (67%). The average move on earnings day was ±15.2%.

Does Snowflake Inc. react more to the earnings numbers or to guidance?

In 3 of the last 12 reports (25%), the stock moved the opposite way from whether it beat or missed the forecast. A high share means guidance and expectations drive the move more than the reported numbers.

Can Snowflake Inc. stock fall even when earnings are good?

Yes. In 2 of the last 12 reports, Snowflake Inc. fell on the earnings day despite growing EPS. Expectations already priced in, or guidance, can matter more than the reported numbers.

Does Snowflake Inc. stock keep moving after the earnings day?

Over the last 12 reports, the move continued in the same direction for the following five trading days 58% of the time. This tendency is known as post-earnings announcement drift.