Snowflake has unveiled its second-quarter financial report, revealing impressive performance metrics. Despite reporting a net loss of $298 million, the company's revenue soared to $1.144 billion, marking a 32% year-over-year increase and surpassing analysts' expectations. Non-GAAP earnings per share stood at 35 cents, also exceeding market projections. Snowflake anticipates annual product revenue to reach approximately $4.4 billion, signifying a 27% year-over-year growth rate and outperforming analysts' forecasts. In response to the report's release, the company's stock price jumped by nearly 13%.

Snowflake highlighted that its platform, which is compatible with a range of cutting-edge AI models, has been enthusiastically embraced by customers, with a notable 21% increase in new customer acquisition. Furthermore, the company has significantly bolstered its workforce by hiring over 500 new employees, particularly expanding its sales and marketing teams. Snowflake's core product, the Cloud Data Platform, now spans 22 public cloud regions worldwide, offering unified management and analysis services tailored to scenarios such as data engineering and data warehousing.