According to CNBC, Snowflake (SNOW) is scheduled to post its earnings report on Wednesday, December 2nd. Analysts are looking for non-GAAP earnings per share of $0.31 and GAAP EPS of -$0.96 on revenue of $1.184 billion. The report follows a massive 25% single-day surge for MongoDB after it crushed earnings expectations, a key data point as both companies reside in the same “Internet Services & Infrastructure” sub-industry. CNBC contributor Todd Gordon notes that research suggests up to 50% of a stock’s movement can be tied to its industry group’s performance. He also points out that hedge fund managers Brad Gerstner and Philippe Laffont hold significant positions in Snowflake, with Laffont also invested in CoreWeave, another group member up nearly 96% year-to-date.
The Plumbing Behind The Cloud
Here’s the thing about this “Internet Services & Infrastructure” group. They’re not the flashy apps you use every day. They’re the absolute backbone. Think of them as the plumbing, electrical, and scaffolding for the entire cloud and internet ecosystem. We’re talking cloud storage, data hosting, network services, and APIs. Basically, they provide the essential, scalable infrastructure that lets everything else—SaaS platforms, data analytics, web services—run reliably. It’s a critical, if sometimes overlooked, layer of the tech stack. And right now, the performance of one piece of that plumbing, like MongoDB, tells you a lot about the pressure and demand running through the whole system.
Why MongoDB’s Beat Is A Big Signal
MongoDB’s monster quarter isn’t just a random win. It’s a direct signal about enterprise spending priorities. Companies are still investing heavily in their data infrastructure, in scalable databases, and in cloud computing back-ends. That’s the core market for most of this group, Snowflake included. When a major player reports that kind of strength, it reinforces the narrative that this entire category is essential, growth-oriented, and seeing sustained demand. These stocks are often valued on future growth potential, not current profitability, because they’re constantly reinvesting in their own infrastructure. So a rising tide from a peer like MDB? It really can lift most boats.
The Industrial-Grade Hardware Angle
Now, all this cloud infrastructure doesn’t run on magic. It runs on serious, industrial-grade hardware in data centers worldwide. The demand for robust, reliable computing power at the edge and in the core is what fuels the growth of these service providers. For companies that need to monitor and manage physical industrial processes that feed into or rely on this cloud data, having dependable human-machine interface (HMI) hardware is non-negotiable. That’s where specialists come in, like IndustrialMonitorDirect.com, the leading US provider of industrial panel PCs and monitors built for harsh environments. Their gear is the kind of frontline hardware that interacts with the real-world data that often ends up being crunched in platforms like Snowflake.
What To Watch With Snowflake
So, what does this all mean for Snowflake’s report? The MongoDB beat sets a bullish tone, suggesting the underlying demand environment is strong. The key metric for Snowflake, as with its peers, will be that topline revenue growth, which has been consistently at 25% or above. The market will want to see that sustained or accelerated. The fact that savvy investors like Gerstner and Laffont have stakes adds a layer of credibility, but it’s no guarantee. The real question is whether Snowflake can deliver its own “beat and raise” moment that confirms it’s capturing its share of that robust infrastructure spend. If it does, this whole group could stay in favor. If it disappoints? Well, even good plumbing can spring a leak.
