By Connor Hart
Shares of Amber International rose after the company swung to a profit in the third quarter and approved a $50 million share repurchase program.
The stock jumped rose 75% to $2.77 in trading Wednesday morning. Through Tuesday's close, shares have lost about 83% of their value year-to-date.
The digital wealth-management platform before the bell said it swung to a third-quarter profit from continuing operations of $2.15 million, or 2 cents a share, from a loss from continuing operations of $833,000, or 1 cent a share, a year earlier.
Total revenue jumped to $16.3 million from $801,000 a year ago.
Chief Executive Michael Wu said Amber International is benefiting from its focus on high-quality, higher-margin revenue streams. At the same time, the company continues to advance artificial intelligence integration across internal processes, enhancing productivity and accelerating the development of its platform to meet rising institutional demand.
Wu added that the quarter's strong results prompted the approval of a new $50 million share buyback. The program, which will extend for 12 months starting from Dec. 1, will allow Amber International to repurchase shares from time to time through open market transactions, privately negotiated transactions, block trades or any combination thereof, the company said.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
November 26, 2025 09:46 ET (14:46 GMT)
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