A day of reckoning is unfolding for two of the world’s most influential tech titans, sending starkly conflicting signals through a nervous European market.

While a blockbuster earnings report from the AI kingpin Nvidia is providing a much-needed dose of optimism, a catastrophic collapse in Tesla’s European sales is painting a grim picture of a one-time market darling in the throes of a brutal unraveling.

European markets are heading for a higher open on Thursday, a fragile relief rally driven almost entirely by Nvidia.

The chip giant reported quarterly results that came in just above expectations and, crucially, confirmed that its blistering sales growth will remain above 50 percent this quarter.

The news, a testament to the resilience of the AI boom, has helped calm a market that was desperate for a positive catalyst.

The great unraveling: a 40% collapse

But beneath this surface-level calm, a far more dramatic and troubling story is taking shape. New sales figures released by the European Automobile Manufacturers Association (ACEA) have revealed a stunning 40 percent collapse in Tesla’s European sales last month.

The company sold just 8,837 vehicles across the continent in July, a dramatic drop from 14,769 in the same month last year.
This is not a one-off blip; it is the continuation of a deep and worrying slump that began at the start of the year.

The collapse continued despite a recent revamp of Tesla’s signature Model Y, a clear sign that the brand is facing a severe crisis, potentially fueled by a backlash against CEO Elon Musk’s political views.

A changing of the guard on Europe’s roads

As Tesla falters, a new challenger is aggressively seizing its crown. The same sales data shows that the Chinese EV-maker BYD is in the midst of an explosive expansion.

The Shenzhen-based company more than tripled its sales year-on-year in July, a staggering rise of 225 percent. This surge gave BYD a 1.2 percent market share in Europe, now decisively ahead of Tesla’s 0.8 percent.

The data confirms a trend that began in April, when BYD first overtook Tesla in European sales.

The Chinese giant, which is now competing with Tesla to be the world’s biggest EV maker, has launched an aggressive sales push in key markets like the UK, often undercutting its rivals on price.

In Britain, where Tesla’s sales slumped 59 percent, BYD’s sales quadrupled.

A cloud over corporate Europe

The day’s corporate news is not all about tech and cars. In France, the spirits giant Pernod Ricard reported a 3 percent decline in full-year sales, a performance dragged down by weak consumer sentiment in China and ongoing tariff uncertainty in the United States.

And in the UK, the share price of the power giant Drax is tumbling in early trading after the news that the country’s financial regulator is probing whether its recent annual reports complied with listing rules, adding another layer of uncertainty to a complex and volatile market.

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A tanker transporting liquefied natural gas (LNG) from Russia’s US-sanctioned Arctic LNG 2 project has arrived at a Chinese terminal, marking the first direct delivery of its kind.

The vessel, Arctic Mulan, docked at the Beihai LNG terminal on Thursday, according to Bloomberg data. This development highlights Moscow’s continued push to expand its fuel deliveries to Asia after pipeline gas sales to Europe collapsed.

It also demonstrates how shadow fleet shipments are now entering mainstream Asian energy markets, despite initial concerns among buyers about potential US retaliation.

Arctic Mulan docks with Russian LNG in China

The Arctic Mulan loaded its cargo from a floating storage unit in eastern Russia in early June, with fuel originating from the blacklisted Arctic LNG 2 facility in northern Russia.

The terminal delivery on Thursday is the first time fuel from the sanctioned project has reached an official Chinese import hub.

Arctic LNG 2, led by Novatek PJSC, is a cornerstone of Russia’s strategy to triple LNG exports by 2030. The project’s capacity and its planned role in diversifying gas flows away from Europe make it one of the Kremlin’s most important energy assets.

However, the plant has been under US sanctions since its early operational stages, when President Joe Biden’s administration imposed restrictions on technology, investment, and trade linked to the facility.

Sanctions pressure and US diplomatic stance

The US has sought to block Arctic LNG 2’s expansion through sanctions but has stopped short of penalising buyers of Russian LNG. Washington has prioritised maintaining diplomatic leverage during negotiations on a ceasefire agreement in Ukraine.

While India has faced political pressure from the US regarding its purchases of Russian oil, LNG trade has not yet faced the same level of scrutiny.

In August, US President Donald Trump described his face-to-face discussions with Russian President Vladimir Putin as “extremely productive”.

This meeting came amid continued global debate over the enforcement of sanctions, the resilience of Russian energy exports, and the impact on international gas markets.

Output and export challenges for Arctic LNG 2

The Arctic LNG 2 plant began producing fuel last year, exporting eight cargoes during the summer months of 2023. However, the facility was forced to shut in October due to a lack of buyers and the onset of seasonal ice build-up around its infrastructure.

The unsold cargoes were diverted into domestic Russian storage units, highlighting the challenges faced in finding international customers under sanctions.

The recent delivery to China through Arctic Mulan signals that Russia is increasingly finding ways to bypass earlier obstacles.

By shifting volumes onto floating storage units and using vessels outside traditional shipping networks, Moscow has been able to push sanctioned fuel closer to mainstream energy trade flows.

Russia’s LNG ambitions and Asia’s role

Russia’s long-term plan to triple LNG exports by 2030 depends on projects like Arctic LNG 2 operating at scale and securing stable buyers. With Europe no longer a major market, Asia has become the primary focus.

China, already the world’s largest LNG importer, has taken on a more significant role as Russia seeks to offset lost European sales.

The successful docking of Arctic Mulan at Beihai may encourage further direct deliveries to Asian terminals. This would not only strengthen Russia’s foothold in Asia’s energy markets but also test how far the US is willing to enforce restrictions on LNG trade.

The shipment shows how Russian energy exporters are working to secure demand in Asia while navigating the challenges posed by sanctions, logistical barriers, and shifting global energy politics.

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Bloomberg reports, Sotheby’s will stage its first-ever auction series in Abu Dhabi this December, a move that reflects the emirate’s growing ambition to become a hub for art, culture, and luxury investments.

Running from 2 to 5 December, the series will be part of Abu Dhabi Collectors’ Week and include rare cars, fine jewellery, timepieces, and real estate.

The event comes after Abu Dhabi sovereign wealth fund ADQ acquired a minority stake in Sotheby’s last year, signalling deeper integration of the auction house into the region’s wealth and cultural strategy, and expanding its global outreach.

Abu Dhabi’s cultural and wealth expansion

The auction launch aligns with Abu Dhabi’s investment in cultural assets, particularly through the Saadiyat Cultural District. This area already hosts the Louvre Abu Dhabi and is preparing to welcome the Guggenheim Abu Dhabi.

These projects are designed to strengthen the emirate’s reputation as a global arts destination and highlight its strategy to merge cultural heritage with modern financial growth.

At the same time, Abu Dhabi is rapidly positioning itself as a magnet for global wealth. According to projections, the country’s richest families will control around $1 trillion by the end of next year.

Dubai, meanwhile, already hosts family offices managing more than $1 trillion in assets. Sotheby’s has reported a 25% rise in United Arab Emirates-based buyers over the last five years, underlining the appetite for luxury acquisitions in the region.

Luxury cars, diamonds, and rare collectibles

Among the headline items in the Abu Dhabi auctions is a 2010 Aston Martin One-77, estimated at between $1.3 million and $1.6 million. Also up for bidding is a 2017 Pagani Zonda 760 Riviera, which could fetch as much as $10.5 million.

A future McLaren Formula 1 Team car chassis is also expected to draw international attention from collectors.

The jewellery and diamond collection on offer is valued at more than $20 million, with additional auctions of rare timepieces and prime real estate further broadening the event’s appeal to buyers and investors seeking exclusive opportunities.

Auction timing with Abu Dhabi’s major events

Sotheby’s has scheduled the auctions to coincide with some of Abu Dhabi’s largest events, including the Formula 1 Grand Prix and Abu Dhabi Finance Week.

This timing is intended to attract wealthy international visitors who will already be in the city for these high-profile gatherings and combine leisure with investment opportunities.

The auctions will mark a new chapter for Sotheby’s in the Middle East, with the company leveraging strong regional demand for luxury goods.

Its decision to host the auctions in Abu Dhabi reflects a strategic push to bring global collectors to the emirate while giving local buyers access to some of the most exclusive assets in the world.

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Shares in French spirits group Pernod Ricard rose by more than 5.7% on Thursday after the company reported a smaller-than-expected fall in annual sales and profit, while offering guidance that pointed to improving trends in the latter half of fiscal 2026.

The performance was received positively by investors, who had braced for a deeper slowdown amid weak demand in key markets.

Tariff impact revised lower to €80 million annually

The company said it now expects tariffs imposed by the United States and China to cost around 80 million euros ($93.7 million) each year, down from an earlier estimate of 200 million euros.

Chief Executive Alexandre Ricard told Reuters that the group, nonetheless, expects fiscal 2026 to deliver an improvement over 2025, although it is too early to quantify the extent of the recovery.

“We will do better for the year than this year,” Ricard said.

The outlook emerges as the French distiller continues to navigate trade disputes, particularly between China and the European Union, while also adapting to new tariff announcements from the United States.

Full-year results slightly ahead of expectations

For the year ended June 30, Pernod Ricard reported sales of 10.96 billion euros, a 3% organic decline.

The figure was marginally better than the 3.2% drop analysts had forecast in company-compiled consensus and in line with its guidance for a low single-digit decline.

Profit from recurring operations fell 5.3% to 2.95 billion euros, reflecting weaker volumes and tariff pressures, while net profit rose 11% to 1.67 billion euros on reduced costs.

The board proposed an unchanged dividend of 4.70 euros per share.

Transition year ahead with a weak start expected

The group, maker of Absolut vodka, Jameson whiskey, Martell cognac and Havana Club rum, warned that fiscal 2026 would be a transition year.

Management forecasts a soft first quarter, driven by continued destocking in the United States and subdued consumer demand in China, but expects momentum to pick up in the second half.

Like its peers, Pernod Ricard has been hit by a downturn in spirits consumption following a post-pandemic surge.

Analysts note that the operating environment remains tough, particularly in the US and China, the company’s two largest markets.

Will the share price rally sustain? Analysts weigh in

Citi analysts described the outlook for organic sales growth in fiscal 2026 as slightly better than market expectations, noting that investors should take comfort from the earnings beat and strong free cash flow.

“We expect the shares to trade higher,” Citi’s Simon Hales wrote in a research note.

JP Morgan analysts said the results offered a mixed picture, combining a welcome earnings beat with a much weaker set-up into the first half of fiscal 2026.

They, however, cautioned that Thursday’s rally may be difficult to sustain after a strong run since late June.

“The share price is already discounting a muted pace of recovery in F26, as confidence in recovery increases, we expect the shares to re-rate,” Jefferies analyst Edward Mundy and associate Sebastian Hickman wrote in a research note. 

They added that the company is doubling down on cost-cutting efforts, which helped it beat earnings expectations, noting this should support the share price.

RBC Capital Markets offered a more guarded assessment, highlighting management’s ambiguous pledge to defend operating margins “to the fullest extent possible.”

The brokerage suggested that this could imply a decline in profitability in the near term.

Shares rally, but challenges remain

The Paris-listed stock has risen about 23% since late June and is up roughly 5% for the year to date.

Thursday’s jump reflected investor relief that full-year results were slightly ahead of forecasts, and that the tariff hit was smaller than initially feared.

Still, analysts warned that headwinds from weak US and Chinese demand, along with ongoing trade disputes, could weigh on performance in the near term.

Management maintained that the company is positioned for a gradual recovery, with improving sales momentum expected to emerge in the second half of the fiscal year.

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Tesla’s presence in the European electric vehicle market weakened further in July, with sales declining for the seventh consecutive month.

According to new data released by the European Automobile Manufacturers Association (ACEA), Tesla recorded a 40% year-on-year drop in new registrations, while Chinese rival BYD achieved a sharp increase.

The figures reflect growing competition in Europe’s electric vehicle segment, where Chinese carmakers are steadily expanding their market share and offering vehicles at competitive prices.

Tesla registrations fall, BYD climbs rapidly

Tesla registered 8,837 new vehicles across Europe in July, representing a steep decline compared with the same period in 2024.

The ACEA data showed that this slump came despite overall growth in the region’s battery electric vehicle sales.

At the same time, BYD reported 13,503 new car registrations in Europe during July, marking a 225% annual increase.

The Chinese manufacturer has been expanding aggressively across the continent, opening showrooms and launching models in several key markets.

This expansion has allowed BYD to rapidly capture more customers, making it a strong challenger in Europe’s growing electric vehicle industry.

Competitive pressures reshape Europe’s EV market

Tesla’s fall in sales comes as the automaker faces several challenges.

These include a lack of major refreshes to its vehicle line-up and increasing concerns about the brand’s reputation linked to Elon Musk’s outspoken presence and political associations in the US.

The company has acknowledged the need to diversify its offerings, with plans to introduce a more affordable electric vehicle.

Tesla has said volume production for this model is scheduled for the second half of 2025.

Analysts have noted that new launches will be crucial for Tesla, as its current vehicle line-up is ageing compared to competitors, and models such as the Cybertruck have not delivered the expected results.

Meanwhile, Chinese brands are scaling their presence at speed.

Data from JATO Dynamics revealed that Chinese automakers secured more than 5% of the European market share in the first half of 2024, a record high.

BYD has been a leading contributor to this surge, but other Chinese manufacturers are also moving quickly to introduce competitive vehicles and strengthen their foothold in the region.

Broader auto market impact

The competitive pressure from China is not limited to Tesla.

Other manufacturers, including Stellantis (owner of Jeep), South Korea’s Hyundai Group, and Japanese carmakers Toyota and Suzuki, also posted year-on-year declines in July registrations.

In contrast, some European firms managed to record gains during the same month.

Volkswagen, BMW, and Renault Group all reported growth in new car registrations across Europe, showing resilience in the face of rising competition.

Globally, Tesla has also seen signs of strain.

The company’s automotive revenue fell in the second quarter of the year, and Elon Musk has indicated that the business may experience “a few rough quarters” ahead.

Tesla has increasingly highlighted its work in artificial intelligence, robotics, and autonomous driving, but analysts have warned that investors remain concerned about the company’s slowing car sales.

The data underscores how Europe’s electric vehicle sector is becoming one of the most competitive markets in the world.

With Chinese brands like BYD expanding rapidly, and established European automakers strengthening their own positions, Tesla faces mounting pressure to reverse its sales decline and adapt to the changing landscape.

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Warren Buffett’s Berkshire Hathaway has increased its stake in Japan’s Mitsubishi Corp to 10.23%, crossing a symbolic ownership threshold and deepening the conglomerate’s presence in the Japanese trading house sector.

This latest move, executed through Berkshire’s wholly-owned subsidiary National Indemnity Company, raised stakes from 9.74% previously and reaffirms Buffett’s bullish stance on Japan’s multifaceted trading corporations.

Berkshire’s strategic expansion in Japanese markets

Berkshire Hathaway’s incremental purchases in Mitsubishi and Japan’s other sogo shosha (trading houses) date back to July 2019.

The company, under Warren Buffett’s guidance, now holds significant stakes in five major firms: Mitsubishi Corp, Mitsui & Co, Itochu Corp, Marubeni Corp, and Sumitomo Corp.

This strategy is underpinned by a yen-denominated debt funding approach, allowing Berkshire to borrow at low Japanese interest rates while benefiting from robust dividend yields and limiting currency risk exposure.

The conglomerate’s Japanese holdings have swelled in value—from an initial outlay of approximately $6 billion to a market value topping $23.5 billion as of late 2024.

This steadily growing share is a testament to Berkshire’s confidence in Japan’s trading houses, which manage vast portfolios covering materials, energy, logistics, and emergent tech investments.

Market reaction and impact on Japanese industry

News of Berkshire’s stake increase triggered an immediate 2.5% surge in Mitsubishi Corp’s stock price, outpacing the broader Nikkei 225 index and reinforcing market optimism for the sector.

Buffett’s investments have proven to be catalysts for Japanese trading house shares in 2025, driving fresh interest from both foreign and domestic investors.

Analysts continue to highlight the value opportunity in Japanese trading houses, noting their single-digit price-earnings ratios compared to stretched valuations in the US.

These companies, often described as the backbone of Japan’s supply chain and resource flows, are now being recognised globally for their capital discipline and consistent shareholder returns.

Governance reforms and long-term outlook

Berkshire’s crossing of the 10% ownership threshold marks more than just a statistical milestone.

It sends a strong signal about the direction of Japanese corporate governance, with Buffett’s approach advocating for increased transparency, board diversity, and capital efficiency.

Berkshire has pledged not to surpass 20% ownership nor to seek hands-on control, yet its influence is already visible in boardrooms and shareholder policies.

Looking forward, Berkshire Hathaway’s strategy appears to be built for patience—Buffett has described these Japanese positions as likely to be held for decades, with successor Greg Abel maintaining frequent contact with company executives.

By leveraging cheap financing, disciplined capital allocation, and a collaborative approach to governance, Berkshire is set to benefit from the long-term stability and innovation within Japan’s diversified trading houses.

Warren Buffett’s latest purchase not only elevates Berkshire Hathaway’s stake in Mitsubishi Corp above 10%, but also signals a broader commitment to Japan’s market and a model for shareholder engagement.

This move continues to shape industry sentiment, drive competitive valuations, and foster structural reform within one of Asia’s largest economies.

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Asian equities finished mostly higher on Thursday, with strong results from US chipmaker Nvidia helping ease concerns about slowing artificial intelligence demand.

Gains across the region were, however, tempered by worries over Federal Reserve independence and reports suggesting Mexico plans to raise tariffs on Chinese imports as part of its 2026 budget proposal.

Hong Kong declines as Meituan slumps

Hong Kong stocks retreated as price wars in the food delivery and electric vehicle sectors weighed on sentiment, alongside Nvidia’s cautious outlook.

The Hang Seng Index dropped 0.8 percent to close at 24,998.82, marking its third consecutive day of losses.

The Hang Seng Tech Index slipped 0.9 percent.

Among major movers, on-demand services giant Meituan plunged 12.6 percent to HK$101.70 after posting weaker-than-expected quarterly earnings.

Its rivals in the delivery space also came under pressure, with Alibaba Group Holding sliding 4.7 percent to HK$115.80 and JD.com falling 5 percent to HK$115.20.

Chinese shares advanced as optimism grew over localization in the chip sector.

Cambricon Technologies surged 15.7 percent and Semiconductor Manufacturing International Corp. climbed 11 percent. T

he benchmark Shanghai Composite Index gained 1.1 percent to 3,843.60, while the CSI 300 Index jumped 1.8 percent.

Japan supported by Buffett stake boost

Japanese markets advanced, aided by fresh investments from billionaire investor Warren Buffett.

The Nikkei average recovered from early losses to finish 0.73 percent higher at 42,828.79, while the broader Topix index added 0.65 percent to 3,089.78.

Mitsubishi Corp gained 1.9 percent after Berkshire Hathaway disclosed it had raised its stake in the trading house to 10.23 percent from 9.74 percent.

Rival Mitsui & Co rose 1.2 percent. Technology investor SoftBank rallied 3.2 percent, and chipmaking equipment supplier Tokyo Electron advanced just over 2 percent.

The Japanese government said economic revitalisation minister Ryosei Akazawa cancelled a planned trip to the United States for tariff negotiations due to technical reasons.

Other regional markets

South Korean stocks ended modestly higher after the Bank of Korea held interest rates steady, as widely expected, and raised its 2025 growth forecast.

The Kospi index edged up 0.29 percent to 3,196.32, with financial, defense and shipbuilding shares among the top gainers.

Australian markets also managed small gains, supported by banking stocks that offset declines in energy and mining.

The benchmark S&P/ASX 200 rose 0.22 percent to 8,980, while the broader All Ordinaries Index gained 0.11 percent to 9,241.10.

India’s Sensex and Nifty closed lower on Thursday as weak investor sentiment followed the United States’ decision to impose higher tariffs on India.

The Sensex fell 705.97 points, or 0.87 percent, to end at 80,080.57, while the Nifty declined 170.85 points, or 0.69 percent, to settle at 24,541.20.

Among the major laggards were Shriram Finance, HCL Technologies, Sun Pharmaceutical Industries, Tata Motors and Tata Consultancy Services, which slipped as much as 3 percent during intraday trade.

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On August 29, Germany will launch its second liquefied natural gas (LNG) import terminal at Wilhelmshaven port. 

This move by state operator Deutsche Energy Terminal (DET) is part of the country’s efforts to diversify its energy supply, according to a Reuters report. 

The unprovoked invasion of Ukraine by Russia in 2022 triggered a significant shift in Germany’s energy policy. 

Historically reliant on Russian pipeline gas, Germany was compelled to seek alternative energy sources to ensure its national security and economic stability.

This pivotal moment led to a strategic pivot towards global, seaborne liquefied natural gas (LNG) imports.

Shifting preferences

To mitigate its dependence on Russian supplies, Germany rapidly developed and deployed new LNG import terminals along its coast. 

These facilities, some of which were fast-tracked as floating storage and regasification units (FSRUs), allowed for the direct import of LNG from various international suppliers, thereby diversifying Germany’s energy portfolio. 

Countries such as the US, Qatar, and other producers of natural gas became increasingly important partners in Germany’s energy supply chain.

In parallel with the increased reliance on LNG, Germany also substantially ramped up its imports of pipeline gas from Norway. 

Norway, a long-standing and reliable energy partner, became an even more crucial source of natural gas for Germany. 

This dual approach of increasing both LNG imports and pipeline gas from Norway served to replace the substantial volumes previously supplied by Russia, which had accounted for a significant portion of Germany’s gas consumption. 

DET markets and operates floating terminals. These terminals convert liquefied natural gas back into gas, which is then fed into Germany’s gas network.

Boosting LNG capacity

DET announced that the commissioning and tests for Wilhelmshaven 2’s equipment have been completed.

These operations, which began in May, enable subsea gas transfer to an onshore head station, thereby minimising environmental impact, among other benefits.

DET managing director Peter Roettgen was quoted in the Reuters report:

Regular operations of the Wilhelmshaven 2 terminal with the floating storage and regasification unit “Excelsior” can now make their contribution to security of supply and to filling gas storage facilities before the next heating season.

In a significant development for the energy market, a recent sales round conducted by DET in July successfully allocated all available regasification slots for both 2025 and 2026. 

These crucial slots, which enable the conversion of LNG back into its gaseous state for distribution, were secured by various key players within the gas market. 

Future supply

This outcome underscores the robust demand for regasification capacity and signals active planning by market participants to ensure their future gas supply. 

US-based LNG company Excelerate Energy owns and operates the ship Excelsior. Additionally, DET has commissioned two other major partner firms.

Additionally, local management processes will be coordinated by German Gasfin Services, while Lithuanian KN Energies will be responsible for commercial and technical maintenance services.

This year, the vessel is projected to supply the onshore grid with up to 1.9 billion cubic meters of natural gas. 

This volume is sufficient to meet the heating demands of approximately 1.5 million households, each comprising four people residing in apartment buildings.

The amount is set to increase to 4.6 bcm in both 2026 and 2027.

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Snowflake shares soared 14% during Thursday premarket trading after the cloud data platform beat Q2 earnings estimates and raised its revenue forecast while signalling accelerating demand for its artificial intelligence offerings.

Revenue for the quarter rose 31.8% to $1.14 billion from a year ago against an expected $1.09 billion.

For the full year, Snowflake raised its product revenue guidance to just under $4.4 billion, higher than its previous $4.33 billion outlook and marginally above analyst estimates of $4.34 billion.

The rally, if sustained, would add more than $11 billion to the company’s market capitalization, lifting it well above $78 billion.

The surge underscores investor confidence that Snowflake is firmly positioned to benefit from a corporate wave of data modernization and AI adoption.

As companies invest heavily in integrating large language models and deploying AI applications, Snowflake has emerged as one of the sector’s most sought-after players.

“We have an enormous opportunity ahead as we continue to empower every enterprise to achieve its full potential through data and AI,” Chief Executive Sridhar Ramaswamy told investors.

Quarterly results beat Wall Street expectations

The company reported a narrower loss of $298 million, or 89 cents per share, compared with a loss of $316.9 million, or 95 cents per share, a year earlier.

Adjusted earnings stood at 35 cents per share, beating analysts’ consensus forecast of 27 cents, according to FactSet.

Revenue growth remained resilient, with Snowflake’s remaining performance obligations — a measure of future contracted sales — jumping 33% year-on-year to $6.9 billion.

Executives highlighted the breadth of enterprise engagement, noting that more than 6,100 accounts are now using Snowflake’s AI-driven services on a weekly basis.

“Thousands of customers are betting their business on Snowflake,” Ramaswamy said, adding that demand for its AI products is beginning to drive incremental revenue streams beyond its traditional data warehousing services.

Guidance lifted as AI adoption accelerates

For the full year, Snowflake raised its product revenue guidance to just under $4.4 billion, higher than its previous $4.33 billion outlook and marginally above analyst estimates of $4.34 billion.

Third-quarter product revenue is projected to come in between $1.12 billion and $1.13 billion, also slightly ahead of Wall Street’s forecast of $1.12 billion.

Executives credited the upgrades to a wave of adoption across industries including financial services, retail, and healthcare.

Snowflake’s platform, they said, is increasingly used for building data pipelines, training AI models, and deploying AI-enabled applications at scale.

“That’s a catalyst for next-generation databases, whether that be MongoDB, Snowflake or Databricks,” said Richard Clode, portfolio manager at Janus Henderson Investors, which holds Snowflake stock.

Analysts raise price targets after upbeat results

The stronger-than-expected results and raised guidance triggered a flurry of analyst upgrades.

Barclays lifted its price target to $255 from $219, maintaining an overweight rating and citing robust product uptake alongside strong customer pipelines.

At least seven other brokerages followed with upward revisions.

Piper Sandler raised price target to $285/ share from $215, also maintaining an overweight rating on the stock.

Data compiled by LSEG showed Snowflake is rated “buy” on average by 51 analysts, with a median price target of $255.

The stock has already risen about 30% so far in 2025, but remains among the most expensive names in the cloud software sector.

It trades at 142 times forward earnings estimates, compared with 76 times for MongoDB and 64 times for Datadog.

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