Block's stock dips after earnings as profit falls short while outlook meets expectations

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Block reported a fourth-quarter net loss of $114 million, or 19 cents a share, compared with a net loss of $77 million in the year-prior quarter. $SQ shares were falling in extended trading after the payment-technology company fell short on profit:

Block Inc. delivered a full-year profit forecast Thursday that matched expectations, but shares of the payment-technology company were falling in aftermarket action after the company fell short on an earnings metric for its most recent quarter.

Shares of Block, the company formerly known as Square, were off about 2% in after-hours trading Thursday. The Cash App had 51 million monthly active transacting users in December, and inflows per active user for the fourth quarter topped $1,000. Chief Financial Officer Amrita Ahuja told MarketWatch that this marked relatively stable inflow performance despite a lack of government disbursements and taking into account “how dynamic the macro environment is.”

Within the Square seller business, Block witnessed moderation in growth rates toward the middle of the quarter in discretionary areas like food and beverage and retail, while the company saw stability in growth rates for service-oriented areas.

 

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MM just voiding all the options. What a joke.

“shares were falling” *puts pic of AH trading being up*

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