SNOWFLAKE JUMPS 22% AFTER HOURS ON AN AI CODING AGENT

🔴 Snowflake spiked 22% in extended trading Wednesday, and the company handed analysts a name to explain it: CoCo.

CNBC reports the data analytics software maker beat expectations on both results and guidance for the fiscal second quarter, which ended July 31.

Revenue rose 35% year over year.

The net loss narrowed to $191.7 million, or 55 cents per share, from $297.9 million, or 89 cents, a year earlier.

Management credited gains from CoCo, its artificial intelligence coding agent, which now sits at 9,100 accounts after adding more than 2,000 during the quarter.

Then came the guide. Snowflake sees $1.59 billion in fiscal third quarter product revenue against a $1.50 billion StreetAccount consensus.

Full-year product revenue was raised to $6.07 billion, up from the $5.84 billion it called for in May. Adjusted operating margin guidance moved to 14.5% from 13.5%.

📈 The stock was already up 39% as of Wednesday's close, against roughly 12% for the S&P 500 over the same stretch. Per CNBC, if Thursday matches the after-hours move, it would be the fourth highest jump since Snowflake went public in 2020.

Executives take questions on the call at 5 p.m. ET.

Would you pay for an AI agent that writes your company's code?

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