Winter may be wrapping up, but Snowflake stock sure isn’t melting following strong results from the cloud-based storage company after markets closed Wednesday. Snowflake stock gained 13% to $187.56 in premarket trading Thursday.

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.