Snowflake Gives Strong Outlook With Focus on New AI Tools

Snowflake Inc. gave a strong outlook for quarterly sales after launching a slew of new products over the last year.

Product revenue, which makes up the bulk of the software company’s business, will increase about 25% to as much as $1.04 billion in the quarter ending in July, the company said Wednesday in a statement. Analysts, on average, estimated $1.03 billion, according to data compiled by Bloomberg.