Snowflake announced an expanded partnership with Microsoft Azure to offer access to OpenAI models on Wednesday.

The company reported earnings before certain costs such as stock compensation of 30 cents per share on sales of $986.6 million, up 27% from a year earlier. The results were much better than expected, with analysts forecasting a profit of just 18 cents per share on lower sales of $957 million.

Key Takeaways Snowflake posted fourth-quarter results and an annual product revenue outlook that sailed past Wall Street estimates, sending shares in the cloud-based data storage provider sharply higher on Thursday.