Snowflake Inc. (SNOW) reported a 20% year-over-year growth in its customer base, reaching 12,621 in Q3 of fiscal 2026. The company now counts 688 customers with trailing 12-month product revenues exceeding $1 million, up 29% year over year. Additionally, Snowflake surpassed $2 billion in sales through the Amazon Web Services (AWS) Marketplace, achieving double the sales from the previous year.
Key drivers of this growth include the rapid adoption of its Snowflake Intelligence platform, which has attracted 1,200 customers, helping the company reach a $100 million AI revenue run rate a quarter earlier than anticipated. Snowflake maintains strong partnerships with notable companies, including SAP, Microsoft, and Amazon, which contribute significantly to its success.
For fiscal 2026, the Zacks Consensus Estimate for SNOW’s earnings is $1.20 per share, indicating a 44.58% increase year over year. Snowflake shares have seen a minor decline of 0.4% over the past six months, underperforming the broader Zacks Computer & Technology sector, which returned 20.1%.
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