Why did QBE shares fall despite a $1.02 billion profit?

Key financial results 

QBE Insurance (ASX:QBE)

QBE Insurance shares fell nearly 8% despite a strong first-half net profit of $1.02 billion, up from USD 802 million a year ago. The result was driven by higher income from written policies and fewer claims.first-half (H1) result. 

Gross written premium grew 6% to $13.8 billion, with a combined operating ratio just under 93%, indicating underwriting profit. Return on equity was 19.2%. Catastrophe claims were $479 million, or 5.4% of revenue, in line with forecasts. QBE guided for mid-single-digit premium growth and declared a $0.31 interim dividend.

Block (ASX:XYZ)

The payments firm rose in extended Sydney trade after lifting its full-year 2025 gross profit forecast to $10.17 billion, up from just under $10 billion. Second-quarter (Q2) gross profit rose 14%, while Bitcoin revenue dropped to $2.14 billion.

Block noted continued essential spending amid weaker discretionary demand.

Nick Scali (ASX:NCK)

Nick Scali posted a 25% drop in full-year profit, with ANZ profit down 12% to A$73 million. Operating costs rose, including A$2.8 million in freight issues.

Despite United Kingdom (UK) losses continuing, the company expects stronger sales in the first quarter (Q1) 2026, supported by store growth. It declared a final dividend of A$0.33, down 9%. Full-year dividends fell 12% to A$0.60. Shares rose on the update.