"Toast posted $1.63 billion in revenue, up 25% year over year and ahead of the $1.59 billion estimate. The company added 7,500 net locations in Q3 and now processes $51.5 billion in gross payment volume annually, up 24%. Annualized recurring revenue hit $2 billion, growing 30%. CEO Aman Narang said the company is expanding its U.S. restaurant leadership while scaling into new markets through AI and partnerships."
"Block reported $6.87 billion in revenue, crushing the $6.38 billion estimate by nearly $500 million. Gross profit reached $2.66 billion, up 18%. Cash App generated $1.62 billion in gross profit, growing 24%, while Square contributed $1.02 billion, up 9%. Cash App serves 58 million monthly active users. Square's gross payment volume growth accelerated to 12%. CEO Jack Dorsey emphasized quality and velocity. The company repurchased 5.3 million shares for $403 million."
Toast posted $1.63 billion in revenue, up 25% year over year and above the $1.59 billion estimate. The company added 7,500 net locations in Q3, processes $51.5 billion in annual gross payment volume (up 24%), and reached $2 billion annualized recurring revenue, growing 30%. The company launched Toast IQ and Toast Advertising and announced a strategic partnership with Uber Technologies while pursuing AI-driven market expansion. Block reported $6.87 billion in revenue, beating estimates; gross profit was $2.66 billion. Cash App generated $1.62 billion in gross profit with 58 million monthly active users. Both firms missed EPS amid heavy investment spending, reflecting differing vertical versus diversified business models.
Read at 24/7 Wall St.
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