--- title: Snowflake beat on almost everything. One number went the... description: Snowflake beat Wall Street estimates on revenue, profit and guidance for its fiscal Q2, sending shares up more than 20% after hours. Revenue hit $1.55bn (up... canonical: https://daily.dev/posts/snowflake-beat-on-almost-everything-one-number-went-the-other-way-9i5vbnao1 twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Snowflake beat on almost everything. One number went the other way | daily.dev og:description: Snowflake beat Wall Street estimates on revenue, profit and guidance for its fiscal Q2, sending shares up more than 20% after hours. Revenue hit $1.55bn (up... og:url: https://daily.dev/posts/snowflake-beat-on-almost-everything-one-number-went-the-other-way-9i5vbnao1 og:image: https://api.daily.dev/og/posts/9i5vBNAo1.png og:image:alt: Snowflake beat on almost everything. One number went the other way og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Snowflake beat on almost everything. One number went the other way **[The Next Web](https://daily.dev/sources/tnw)** · 5 min read · 0 upvotes · 0 comments ## Summary Snowflake beat Wall Street estimates on revenue, profit and guidance for its fiscal Q2, sending shares up more than 20% after hours. Revenue hit $1.55bn (up 35% YoY) against a $1.48bn consensus, and adjusted EPS came in at 62 cents versus a forecast 45 cents. Full-year product revenue guidance was raised to $6.07bn. The outlier was remaining performance obligations, at $9.00bn versus an expected $9.37bn, a roughly $370m shortfall despite 30% YoY growth. GAAP results still show a $191.7m net loss, driven largely by $456.4m in stock-based compensation. CEO Sridhar Ramaswamy attributed about half of the growth acceleration to AI products, including the CoCo coding assistant (9,100+ accounts) and CoWork (5,800 accounts). Databricks remains the faster-growing rival, reportedly passing $7bn in revenue run-rate and growing over 80% YoY. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### How did Snowflake's remaining performance obligations compare to analyst expectations in its latest quarter? Snowflake reported remaining performance obligations of $9.00bn for the quarter ending July 31, versus analyst expectations of $9.37bn, a shortfall of roughly $370m. This came despite RPO growing 30% year on year, because the metric doesn't account for consumption timing, renewals, contract length, or seasonality. _Investors weighing cloud vendor growth signals track earnings breakdowns like this on daily.dev._ ### Why does Snowflake report a GAAP net loss despite positive non-GAAP operating income? Snowflake's GAAP operating loss of $263.0m and net loss of $191.7m stem largely from stock-based compensation charges of $456.4m for the quarter, which exceeds the $237.0m non-GAAP operating income being highlighted in headlines. Non-GAAP net income was $235.3m, while the GAAP loss narrowed from $297.9m a year earlier. _Engineers evaluating vendor financial health before adopting a data platform can follow coverage like this on daily.dev._ ### How does Snowflake's revenue growth compare to Databricks' growth rate? Databricks is growing faster, reporting more than 80% year-over-year revenue growth and passing $7bn in revenue run-rate, compared to Snowflake's 37% product revenue growth. Databricks closed a $5bn funding round at a $190bn valuation and remains private, so its figures are not subject to audited disclosure requirements. _Teams comparing Snowflake and Databricks for their data stack can track these rivalry updates on daily.dev._ ## Similar posts on daily.dev - [Databricks Closes $5 Billion Round at $190 Billion Valuation](https://daily.dev/posts/databricks-closes-5-billion-round-at-190-billion-valuation-k3nvrctbn) · The Next Web · 1 upvotes · 0 comments - [Databricks hits $5.4B revenue run rate and banks a $134B valuation](https://daily.dev/posts/databricks-hits-5-4b-revenue-run-rate-and-banks-a-134b-valuation-gw3m4t8ci) · The Next Web · 0 upvotes · 0 comments --- Tags: [#ai](https://daily.dev/tags/ai), [#snowflake](https://daily.dev/tags/snowflake), [#databricks](https://daily.dev/tags/databricks) [View this post on daily.dev](https://daily.dev/posts/snowflake-beat-on-almost-everything-one-number-went-the-other-way-9i5vbnao1) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Snowflake beat on almost everything. 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One number went the other way"}]} {"@context":"https://schema.org","@type":"FAQPage","@id":"https://daily.dev/posts/snowflake-beat-on-almost-everything-one-number-went-the-other-way-9i5vbnao1#faq","mainEntity":[{"@type":"Question","name":"How did Snowflake's remaining performance obligations compare to analyst expectations in its latest quarter?","acceptedAnswer":{"@type":"Answer","text":"Snowflake reported remaining performance obligations of $9.00bn for the quarter ending July 31, versus analyst expectations of $9.37bn, a shortfall of roughly $370m. This came despite RPO growing 30% year on year, because the metric doesn't account for consumption timing, renewals, contract length, or seasonality. 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