The company logo for Snowflake Inc. is displayed on a banner to celebrate the company's IPO at the New York Stock Exchange (NYSE) in New York, U.S., September 16, 2020. REUTERS/Brendan McDermid/file photo
(Reuters) - Cloud data analytics company Snowflake beat second-quarter revenue and profit estimates on Wednesday, boosted by rising data management and storage needs of businesses amid a surge in the use of generative artificial intelligence.
Shares of the company rose more than 3% in trading after the bell.
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