Snowflake $SNOW has delivered very good results and the stock is reacting with a rise of more than 20%.

Revenue reached $1.55 billion, while analysts expected around $1.48 billion. Adjusted earnings per share were $0.62 versus the expected $0.45.

The most interesting thing for me, though, is the pace of growth of the business itself. Product revenue grew 37% year over year to $1.49 billion and the company again raised its full-year outlook. For fiscal year 2027, it now expects product revenue of $6.07 billion, previously it had projected $5.84 billion.

I've been following Snowflake for a while now, because it seems to me like one of the ways to look at the AI boom a bit differently than just through chip makers. Companies need somewhere to store, manage, and especially work with vast amounts of data for AI, and that's exactly what Snowflake's business is built on.

The company is also gradually adding its own AI tools and already in the last quarter it signed a five-year deal with AWS worth $6 billion.

I don't have Snowflake in my portfolio yet, but after these results I will definitely keep following it.

Does anyone have Snowflake in their portfolio? How do you view the company?