In the early morning of May 28, the cloud data platform was launched Snow lake (Nasdaq: snow) achieved one of the most prominent stock market 2026 Transformations, with its shares rising 38% during the extended session.
The move not only lifted shares from their recent closing price of $175.26 to $242.05 at press time, but it also erased the stock’s entire year-to-date loss in a matter of hours.
In fact, SNOW stock is down 19.13% in 2026, after starting the year at $216.72 and closing May 27 at $175.26, but Thursday morning it was up $24.34 — 11.69% — higher than it was in the first regular session of the year.
Why Snowflake Stock Soared 38% in Less Than One Day
The impressive rally that continued during the extended session was primarily driven by the Snowflake Index Latest earningswhich showed strong performance in revenue, earnings per share (EPS) and year-over-year (YoY) growth, and also gave investors great reasons for optimism.
Initially, the company had sales of $1.39 billion with a growth of 33% year over year, with a net revenue retention rate of 126%. Earnings per share showed the same increase, reaching $0.33 versus $0.32 expected.
Furthermore, Snowflake highlighted the increase in its customer base with a net increase of 616, with up to 13 new customers. Forbes Global 2000 Clients. The company also emphasized the growth in its adoption of artificial intelligence capabilities, noting that it has doubled on a quarterly basis.
Looking to the future, there is an expansion of AWS’s partnership with… Amazon (Nasdaq: Amzn(With a commitment of $6 billion over five years, it has drawn particular attention and sparked a great deal of optimism.
The same can be said for the announced deepening of its “partnership with OpenAI to deliver advanced AI capabilities through joint innovation and joint go-to-market efforts.”
Finally, Snowflake called for a 12.5% operating margin adjustment for its fiscal second quarter to $1.420 billion in product revenue — above expectations of 11.9% — and revealed that it is acquiring artificial intelligence (Amnesty International) startup Natoma, although the amount remained undisclosed.
Featured image via Shutterstock
