Snowflake Inc (NYSE:SNOW) reported financial results for the first quarter of fiscal 2027 after the market close on Wednesday. Here’s a look at the key details from the print.

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Snowflake Q1 Earnings

Snowflake posted first-quarter revenue of $1.39 billion, beating analyst estimates of $1.32 billion, according to Benzinga Pro. The AI data cloud company reported adjusted earnings of 39 cents per share for the quarter, beating analyst estimates of 32 cents per share.

Total revenue was up 33% year-over-year with a net revenue retention rate of 126%. Product revenue came in at $1.33 billion, up 34% on a year-over-year basis.

Remaining performance obligations totaled $9.21 billion, up 38% year-over-year. Snowflake said it ended the quarter with 779 customers with trailing 12-month product revenue greater than $1 million after adding 616 new customers in the quarter.

The company had approximately $2.08 billion in ...