Snowflake is trading 23.45% up at $378.00 after September 2, 2026, second-quarter fiscal 2027 results exceeded expectations and the company raised its full-year outlook. Results showed $1.55 billion revenue and 37% product-revenue growth. AI consumption contributed to stronger momentum. The release was scheduled after the U.S. market close on September 2, making earnings the direct catalyst; the broader market was modestly positive, so company-specific earnings dominated the after-hours move.