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snowflake As data analytics providers see cloud services growth, forecast product revenue for fiscal 2026 is an estimate by analysts on Wednesday. AIraising its shares by 11% in an expanded transaction.
The company also said it has integrated OpenaiModels directly in Snowflake Cortex AI, which fully manages AI services.
Snowflake’s data cloud has been seeing strong adoption from companies that want to use AI-driven services to organize large amounts of data.
Chief Financial Officer Michael Scarpelli will retire, the company said Wednesday. He will continue to take on his role until he finds a successor and then enters the consulting position.
According to data compiled by LSEG, Snowflake predicts product revenue to rise 24% in 2026 to $4.28 billion, while the average analyst estimate is $4.21 billion.
As businesses migrate to cloud-based solutions, businesses are pushing budgets, which promotes sales for businesses like Snowflakes.
The company also forecasts first-quarter product revenues to be between $955 million and $960 million, up from the $949.3 million estimate.
Total revenue in the fourth quarter was $986.8 million, estimated at $955.9 million.
