Investing.com - Block Inc (NYSE:SQ), the owner of Afterpay, saw an 11% surge in its shares in after-hours trading on Wall Street. This follows its announcement of December quarter sales of $US5.77 billion, surpassing market expectations. However, the company's net operating loss for the quarter expanded to $US131 million from $US10 million in the previous quarter. Block also revealed plans to merge Afterpay into its Cash App in the U.S. While the company does not disclose separate financial results for Afterpay, it stated that the gross merchant value for buy now, pay later transactions in the December quarter soared 25% to $US8.6 billion.
Gold mining company Newmont Corporation DRC (ASX:NEM) reported that the acquisition of Newcrest led to increased operating costs over the December quarter. The combined entity posted a free cash flow loss of $US304 million for the period. However, the company achieved an average realized price of $US2004 per ounce of gold sold and reported an adjusted December quarter profit of $US486 million. Newmont anticipates realizing $US500 million in cost savings and synergies from the Newcrest acquisition by 2025.
U.S. shipbuilder Austal Ltd (ASX:ASB) reported a net profit of $12 million for the first half of the 2023 fiscal year, in contrast to a loss of $7.3 million during the same period the previous year. Although revenue for the period slightly decreased to $717.7 million, the company reiterated its sales growth guidance of between 8% and 10% for the 2024 fiscal year.
Lottery operator Jumbo Interactive Ltd (ASX:JIN) announced an interim dividend of 27¢ per share, with earnings per share increasing by 14.5% to 33.1¢. Its revenue for the six months ending December 31 rose by 18.4% to $73.9 million. The company also confirmed its financial 2024 guidance, predicting operating cost growth to be slower than sales growth.