Snowflake’s stock price just soared to a 2026 high thanks to AI. So what happened to the SaaSpocalypse? (opens in new tab)

Shares in the AI data cloud provider Snowflake Inc (NYSE: SNOW) are surging this morning in premarket trading after the company reported better-than-expected results for its Q1 2027. Here’s what you need to know about those results, and how SNOW stock is reacting. What’s happened? Yesterday, after markets closed, Snowflake Total revenue of $1.39 billion, up 33% year-over-year Product revenue of $1.33 billion, up 34% YOY Earnings per share (EPS): 39 cents To put those numbers into greater pers...