Will SNOW's 2026 earnings continue the upward trend?

**Snowflake's 2026 earnings are poised to continue the upward trend**, and here's why:

1. **Strong Product Revenue Growth**: Snowflake has projected product revenue growth of 24% to $4.28 billion for the fiscal year 2026. This is a significant increase from the estimated $1 billion for the same period the previous year. The growth is attributed to the company's innovative product offerings and strategic market positioning.
2. **Conservative Guidance**: Despite providing a conservative first-quarter guide, Snowflake's fiscal 2026 guidance has exceeded street expectations for product revenue and non-GAAP operating margin. This indicates that the company is confident in its ability to deliver strong financial performance.
3. **Strategic Partnerships**: Snowflake's expanded partnership with Microsoft is expected to open new growth avenues. The integration of OpenAI's models into Snowflake Cortex AI is likely to boost the company's strategic positioning in the AI subsector, further driving growth.
4. **Customer Metrics**: The company's customer base is robust, with 580 customers generating over $1 million in annual revenue. Snowflake also maintains a strong net revenue retention rate of 126%, which suggests a high customer satisfaction and potential for repeat business.
5. **Analyst Optimism**: Analysts have raised price targets and maintained bullish ratings on Snowflake stock. This optimism is based on Snowflake's strong fourth-quarter results and the potential for continued growth, particularly in the AI and data analytics sectors.

In conclusion, Snowflake's 2026 earnings are expected to build upon the company's recent success, driven by strong product revenue growth, strategic partnerships, and robust customer metrics.