Block's stock soars as company sets big earnings goal, launches buyback program

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

Österreich Nachrichten Nachrichten

Österreich Neuesten Nachrichten,Österreich Schlagzeilen

‘Really what we expect to see next year is meaningful margin expansion,’ CFO says

Block Inc. set a big target for a 2024 earnings metric that vastly exceeded the consensus view, helping to send its stock shooting nearly 20% higher in Thursday’s extended session.

“Really, what we expect to see next year is meaningful margin expansion as we make progress to ‘Rule of 40,'” Chief Financial Officer Amrita Ahura told MarketWatch, referring to the sum of gross-profit growth and adjusted-operating-income margin. Block expects to hit that target in 2026 but make strides during the next calendar year.

Revenue increased to $5.6 billion from $4.5 billion and came in ahead of the FactSet consensus, which was for $5.4 billion. Chief Executive Jack Dorsey recently took over leadership of the Square seller business, and he outlined his new priorities for the segment, which include a more localized product focus, better use of artificial intelligence and a greater push with the company’s banking products.

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 3. in AT
 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.

Österreich Neuesten Nachrichten, Österreich Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Block makes progress on profits and sets big earnings goal, sending stock higher‘Really what we expect to see next year is meaningful margin expansion,’ CFO says
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »