Snowflake stock gains 3% following Q2 beat

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Product revenue came in at $640.2M, representing a 37% year-over-year growth. The company now has 402 customers with trailing 12-month product revenue greater than $1M and 639 Forbes Global 2000 customers, representing 62% and 17% year-over-year growth, respectively.

For Q3/24, the company expects product revenue in the range of $670-$675M, representing a 28-29% year-over-year increase.

For the full year, the company sees product revenue at $2.6 billion, which represents a 34% year-over-year growth.