Live: Will Snowflake's Q2 Earnings Tonight Deepen Today's 4% Selloff?

Snowflake is set to report Q2 FY27 earnings at 4:05 PM ET after the bell, with shares trading at $306.26 and down 3.83% intraday amid questions about whether its AI monetization can extend a recent beat streak. The article points to momentum from Q1 FY27: product revenue of $1.334 billion, up 34% year over year, and sequential dollar growth described as the strongest in company history. Management raised FY27 product revenue growth guidance from 27% to 31% and lifted operating margin guidance to 13.5%. Net revenue retention rose to 126%, RPO grew 38%, and Snowflake added 616 net new customers. Wall Street EPS estimates moved from $0.419 ninety days ago to $0.45, with consensus revenue at $1.481B versus the company’s $1.42B ceiling. Analysts will focus on Cortex Code, gross margin, and the Natoma integration. A beat is widely expected by Polymarket traders, but an in-line result could disappoint.