Why Block, News Corp, REA Group, and TechnologyOne shares are storming higher today

The S&P/ASX 200 Index (ASX: XJO) is having a tough finish to the week. In afternoon trade, the benchmark index is down 1.8% to 8,721.4 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:

Block Inc. (ASX: XYZ)

The Block share price is up 5% to $103.33. Investors have been buying the payments company’s shares following the release of its quarterly update. Block delivered gross profit of US$2.91 billion for the first quarter of 2026. This was up 27% year on year. This was driven by strong growth across Cash App and Square. It revealed that Cash App gross profit was up 38% to US$1.91 billion and Square gross profit up 9% to US$982 million. Block’s CEO, Jack Dorsey, said: “We continued to deliver strong financial performance in the first quarter as AI became more central to how Block operates and what we build for customers.”

News Corporation (ASX: NWS)

The News Corporation share price is up almost 4% to $43.70. This morning, the media giant released its third-quarter update and reported a 9% jump in third quarter revenue to US$2.19 billion. Growing at a stronger rate was its net income from continuing operations, which increased 13% to US$121 million. Management advised that News Corp’s Digital Real Estate Services and Dow Jones segments helped drive its strong result. They both reported double-digit growth for the quarter.

REA Group Ltd (ASX: REA)

The REA Group share price is up 2% to $178.33. This has been driven by the release of the property listings company’s third-quarter update. REA Group posted an 11% increase in revenue to $398 million and a 16% jump in EBITDA to $220 million. REA Group’s CEO, Cameron McIntyre, said: “REA Group’s third quarter performance reflects our focus on enhancing our immersive consumer experiences, and increasing the value delivered to customers. The result was underpinned by double digit revenue growth across our Australian businesses and strong double-digit yield growth in our core residential business.”

TechnologyOne Ltd (ASX: TNE)

The TechnologyOne share price is up 3% to $28.26. This appears to have been driven by a broker note out of Bell Potter. This morning, the broker upgraded the enterprise software provider’s shares to a buy rating with an improved price target of $31.75. Bell Potter said: “Technology One announced a new contract with James Cook University (JCU) last month which in our view is significant from a product perspective. […] On the back of this contract win and clear demonstration of “the power of Plus” we have modestly increased our ARR forecasts in each period.”

The post Why Block, News Corp, REA Group, and TechnologyOne shares are storming higher today appeared first on The Motley Fool Australia.

More reading

• 7 ASX 200 shares just upgraded this week
• Why QBE, Block and Macquarie shares are grabbing headlines on Friday
• REA shares rise as investors look past a rough year
• What’s the UBS call on News Corp shares after a strong quarterly result?
• Afterpay and Square owner Block shares jump 6% on strong results

Motley Fool contributor James Mickleboro has positions in REA Group and Technology One. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block and Technology One. The Motley Fool Australia has recommended Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.