June quarter and it lowered its full year earnings forecasts, largely because of President Donald Trump’s tariffs.

The world's top-selling car maker also cut by 16% its forecast for full-year operating profit, reflecting challenges for global manufacturers grappling with rising costs from U.S. levies on cars, parts,

Toyota warned Thursday that Trump’s auto tariffs could cost the company nearly $10 billion, the steepest estimate yet among global carmakers, according to CNN. The company slashed its full-year operating profit forecast by 16% and reported a first-quarter operating loss in North America after absorbing $3 billion in tariff-related costs.

Block reported a rise in second-quarter income and raised its expectations for annual gross profit on Thursday, as the payments firm was helped by resilient consumer spending, lifting its shares 12% higher in extended trading.

ASX-listed shares of Block surged in early trade after the Afterpay owner raised its full-year gross profit forecast this morning. Block shares were up 7.2% to $124.78 at 10:55am AEST, extending gains of more than 40% over the last 12 months.

Shares of Block Inc (NYSE:XYZ) jumped 8% in premarket trading on Friday following the company’s second-quarter report that showcased impressive gross profit growth, even as adjusted earnings per share fell short of forecasts.