BLOCK BEATS Q1 ESTIMATES, RAISES 2026 PROFIT OUTLOOK
■ AI-SUMMARIZED FROM 1 SOURCE ▸ TIMELINE
Block Inc. reported first-quarter revenue of $6.1 billion, exceeding analyst expectations of $5.9 billion and marking 5% year-over-year growth. The company also raised its 2026 gross profit forecast above consensus estimates.
■ MORE FROM THE BUSINESS DESK
The US urged G20 members to skip comprehensive new AI regulations, instead focusing rules on novel situations involving the technology. The position marks a preference for targeted oversight rather than sweeping legislative frameworks.
Dell Technologies raised its annual sales forecast by $25 billion following explosive demand for AI server hardware. The company's stock surged in extended trading on the strength of the revised guidance.
Cybersecurity firm Palo Alto Networks raised its annual profit guidance above analyst expectations, driven by corporate demand for AI-focused security solutions. The company is capitalizing on growing enterprise concerns about threats posed by advancing artificial intelligence systems.
The Federal Trade Commission alleges Amazon illegally manipulated billions of ad auctions to overcharge advertisers and retain $20 billion in unlawful profits. The agency claims Amazon replaced legitimate auction results with artificially inflated prices set by the company.