AMD revenue outlook tops estimates as data-center sales rise 97%
Shares gained more than 8% in extended trading after AMD projected fourth-quarter revenue of about $17 billion, above the $16.23 billion analyst estimate.
Block lifts 2026 gross profit forecast as Cash App growth strengthens
Shares rose 9% in extended trading. Cash App's quarterly gross profit increased 27%, while credit-related losses also climbed.
Block raised its 2026 gross profit forecast to $12.63 billion from $12.51 billion on November 3 after reporting higher third-quarter earnings, supported by growth at Cash App. The revised outlook represents 22% growth.
For the quarter ended September 30, adjusted operating income reached $923 million, or $1.13 per share. A year earlier, it was $480 million, or 54 cents per share. Block shares gained 9% in extended trading.
Cash App recorded a 27% year-over-year increase in gross profit, while Square, Block's merchant business, posted 14% growth. CEO Jack Dorsey said Neighborhoods helped Cash App reach 60 million monthly transacting actives in September.
The expansion of Cash App's banking and lending products has broadened Block's revenue beyond transaction fees, but credit losses have also increased. Third-quarter losses tied to transactions, loans and consumer receivables climbed 65.6% to $601.7 million.
Chief Financial Officer Amrita Ahuja said in an interview that continued strong Cash App Card spending and Borrow repayment rates indicated consumers were managing their finances.
Block projected fourth-quarter gross profit of $3.32 billion. Chief Operating Officer Owen Jennings said the company expects to earn revenue directly from AI tools for the first time that quarter.
For 2027, Block forecast $14.52 billion in gross profit, implying 15% growth. The company said it expects its AI investments to support sustained growth.