Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology in New Delhi, India, November 12, 2018.stock rose slightly in extended trading after the payments company reported fourth-quarter earnings that missed Wall Street expectations.EPS: $0.22, adjusted, versus expectations of $0.30Block posted $1.66 billion in gross profit, up 40% from a year ago. That beat Wall Street expectations of $1.53 billion.
Analysts tend to focus on gross profit as a more accurate measurement of the company's core transactional businesses. Block, formerly known as Square, told CNBC in a call that the company ended the year with 51 million monthly transacting actives for Cash App in December, with two out of three transacting each week on average.
Its Cash App business reported $848 million in gross profit, a 64% year-over-year rise, according to Block. During December 2022, Cash App had 51 million monthly transacting actives, an increase of 16% year over year. The company said that its Cash App Card generated more than $750 million in gross profits in 2022, up 56% from a year earlier.Prior to Thursday's after-hours moves, the stock was up more than 15% in 2023.
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This is why you invest in 🇺🇸, these names miss earnings and go up 4%, meanwhile commie 🇨🇳 stocks have pretend monster earnings beats and drop 5%.
How’s guidance ? You left that part out 😂🤡 don’t expect much from CNBC