04:44 PM EDT, 05/27/2026 (MT Newswires) -- (Updates with details on AWS collaboration and Natoma acquisition in the 7th and 8th paragraphs.)

Snowflake (SNOW) reported fiscal Q1 adjusted net income late Wednesday of $0.39 per diluted share, up from $0.24 a year earlier.

Analysts polled by FactSet expected $0.32.

Revenue for the quarter ended April 30 rose to $1.39 billion from $1.04 billion a year earlier.

Analysts surveyed by FactSet expected $1.32 billion.

The company expects fiscal Q2 product revenue of $1.415 billion to $1.420 billion. Analysts expect $1.37 billion.

The company now expects fiscal 2027 product revenue of $5.84 billion, up from the prior forecast of $5.66 billion. Analysts expect $5.67 billion.

Snowflake said late Wednesday it has signed a multi-year strategic collaboration agreement with Amazon Web Services to accelerate enterprise agentic AI adoption, including a $6 billion multi-year infrastructure commitment to AWS.

Separately, the company said late Wednesday it has signed a definitive agreement to acquire Natoma, an enterprise model context protocol platform for AI agents. Financial details weren't provided.

Shares of Snowflake rose about 33% in after-hours activity.