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Snowflake Surges Over 20% in After-Hours Trading Following Strong Q2 Earnings

Market Watcher09-03 08:10

September 2, 2026, Wednesday, 8:00 PM ET, after the U.S. stock market closed, several stocks experienced significant after-hours movements.

Snowflake saw its stock price soar over 20% in after-hours trading, reaching new heights.
The surge came after the company reported its fiscal 2027 Q2 earnings, showcasing a 35% year-over-year revenue growth to $1.55 billion. Product revenue grew by 37% to $1.49 billion, driven by the increasing adoption of its AI-assisted coding tool, CoCo. Additionally, Snowflake raised its full-year product revenue guidance to $6.07 billion, signaling strong confidence in its growth trajectory. The robust results and optimistic outlook have fueled investor enthusiasm, propelling the stock higher.

Hewlett Packard Enterprise experienced a slight decline of 0.06% in after-hours trading despite strong quarterly results and an optimistic outlook.
HPE reported Q3 net income of $1.54 billion and revenue of $12.21 billion, both surpassing analyst expectations. Adjusted EPS came in at $1.11, beating estimates. The company also raised its fiscal 2026 revenue growth forecast to 34%–37% and adjusted EPS guidance to $3.75–$3.85. Furthermore, HPE announced a strategic partnership with Oracle to accelerate the deployment of gigawatt-scale AI infrastructure, which includes a multi-year global deployment of HPE Juniper networking solutions. Despite these positive developments, the stock saw a minor dip, possibly due to profit-taking.

NetApp dropped 8.45% in after-hours trading, despite reporting better-than-expected Q1 financial results.
The company posted revenue of $2.025 billion, exceeding the IBES estimate of $1.838 billion. Net income reached $375 million, and adjusted EPS was $2.58, beating the estimate of $2.12. However, the stock's decline suggests that investors may have been expecting even stronger guidance or are concerned about future growth prospects.

Five Below rose by 0.07% in after-hours trading following the release of its Q2 financial results.
The company reported an adjusted EPS of $1.68 and a GAAP EPS of $3.99. Net income reached $221.395 million, with sales totaling $1.261 billion, surpassing the estimated $1.221 billion. Operating income was $275.35 million, reflecting a 22.9% year-over-year increase in net sales. The modest stock movement suggests that the strong results were already priced in by the market.

Today's After-Hours Gainers TOP 5
Generation Income Properties Inc.: +54.43%
T-REX 2X Long SNOW Daily Target ETF: +44.73%
Gelteq: +44.29%
Tilly's: +35.96%
Nyxoah SA: +28.48%

Today's After-Hours Decliners TOP 5
Ultragenyx Pharmaceutical: -42.71%
BioRestorative Therapies, Inc.: -12.59%
Genprex, Inc.: -9.12%
NetApp: -8.45%
Willamette Valley Vineyards: -8.25%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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