Snowflake Inc's stock surged 5.01% during pre-market trading on Thursday, following the release of its quarterly financial results.

The data-warehousing software company reported fourth-quarter revenue of $1.28 billion, beating analyst estimates of $1.26 billion. Adjusted earnings came in at 34 cents per share, surpassing the expected 27 cents per share. CEO Sridhar Ramaswamy highlighted Snowflake's position at the center of the enterprise AI revolution, noting the transformative potential of AI for businesses.

Looking ahead, Snowflake provided first-quarter product revenue guidance in the range of $1.26 billion to $1.27 billion, representing approximately 27% year-over-year growth. The positive earnings report comes amid broader market discussions about a potential bottom for software stocks, with some strategists suggesting the recent selloff in AI-related names may be nearing its end.