Snowflake's Q2 Revenue Jumps 35% as Its AI Coding Agent Tops 9,100 Accounts

Snowflake reported fiscal second-quarter revenue up 35% year-over-year to $1.55 billion for the period ended July 31, beating analyst expectations of $1.48 billion, with adjusted earnings of 62 cents per share against a forecast of 45 cents. Shares jumped more than 22% in extended trading. The company raised its full-year product revenue forecast to $6.07 billion, up from $5.84 billion in May, and widened its projected adjusted operating margin to 14.5% from 13.5%.

The AI Product Driving the Beat

Snowflake specifically credited its CoCo AI coding agent for a meaningful share of the growth — the product now has 9,100 accounts, up more than 2,000 in the quarter alone. That's a concrete adoption number, not a vague reference to "AI momentum," and it's paired with a second real product move: Snowflake has integrated OpenAI's models directly into Snowflake Cortex AI, its fully managed AI service, rather than building every model capability in-house.

Why the Guidance Raise Matters More Than the Beat Itself

• A single-quarter earnings beat can reflect timing or one-off deals; a raised full-year guidance number reflects management's updated confidence in sustained demand for the rest of the year
• The operating margin also widened alongside the revenue raise — meaning growth isn't coming at the cost of profitability, a combination investors and enterprise buyers alike should read as a stronger signal than revenue growth alone
• Snowflake's own finance chief has previously described AI tools like Cortex as driving a "step function change" in the company's AI revenue potential — language that's now being backed by two consecutive quarters of raised guidance, not just a one-time projection

What This Signals for Data Platform Buyers

Snowflake's results are a useful proof point in a broader pattern: data platforms that integrate AI capabilities directly into the platform (rather than requiring a separate AI tooling layer bolted on top) appear to be converting that integration into real, measurable revenue — 9,100 CoCo accounts is an adoption number a buyer can actually benchmark against, not a marketing claim. For any organization currently evaluating a data platform partly on its AI roadmap, Snowflake's willingness to report specific adoption figures alongside earnings is itself worth noting as a transparency signal worth asking competing vendors to match.