Q4: 2026-02-25 Earnings Summary
EPS of $0.32 beats by $0.05
| Revenue of $1.28B (30.12% Y/Y) beats by $29.03M
Snowflake Inc. (SNOW) Morgan Stanley Technology, Media & Telecom Conference 2026 March 3, 2026 7:05 PM EST
Company Participants
Sridhar Ramaswamy – CEO & Director
Brian Robins – Chief Financial Officer
Conference Call Participants
Sanjit Singh – Morgan Stanley, Research Division
Presentation
Sanjit Singh
Morgan Stanley, Research Division
All right. Continuing the afternoon sessions at TMT Day 2. I’m Sanjit Singh. I cover the infrastructure software practice on the Morgan Stanley research team.
Thrilled to have the Snowflake management team, CEO, Sridhar Ramaswamy; and Chief Financial Officer, Brian Robbins. Sridhar, Brian, welcome back to the TMT conference.
Sridhar Ramaswamy
CEO & Director
Thank you. Delighted to be here.
Sanjit Singh
Morgan Stanley, Research Division
For important disclosures, please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. So we’ve got 35 minutes, and Sridhar, we got a lot to talk about between a durable core business. We got Snowflake Intelligence out. We got Cortex code, and we’ve got to figure out how all this will translate into an attractive growth and free cash flow story.
Question-and-Answer Session
Sanjit Singh
Morgan Stanley, Research Division
I want to start the conversation with the core business. So when I was going at various conferences with AWS or other hyperscaler conferences, the sort of rallying cry that I heard was you had to get your data state ready for — to prepare for AI. It seems to me like those initiatives really got operationalized in calendar 2025.
And so when you look at the core business, how it’s sustained over the past year, was it these data modernization that drove that durability and that strength in the core? Or were there other additional factors that you would call out?
Sridhar Ramaswamy
CEO & Director
Data modernization continues to play an important role. But we’ve fundamentally been limited
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