Block stock rockets higher after earnings as Square parent posts a 'strong beat all around'

Shares of Block Inc. were rising 13% in after-hours trading Thursday after the payment-technology company exceeded expectations with its latest earnings and gross-profit figures amid momentum in both its seller and Cash App businesses.

After adjusting for stock-based compensation and other expenses, Block earned 42 cents a share, while analysts were modeling 23 cents a share. Block’s revenue rose to $4.52 billion from $3.85 billion, while the FactSet consensus was for $4.49 billion. However, Wall Street is less focused on Block’s headline revenue figure, which includes large contributions from bitcoin revenue — $1.76 billion in the latest quarter — that carries a minimal margin.

There were nearly 18 million Cash App Card active users in the month of September, according to the report. That was up more than 40% from a year before.

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

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

Shares of Block jump on earnings beatBlock stock rose in extended trading after the payments company reported third-quarter earnings that beat Wall Street expectations for profit. Why’s he look like a crackhead
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »

Washington state sues to block $4 billion Albertsons dividend ahead of Kroger mergerWashington state's lawsuit is among the first targeting the proposed merger, which would combine the two of the nation’s largest grocers into a single corporation. never mind Amazon time to go out and shop bring back real businesses.
Herkunft: adndotcom - 🏆 293. / 63 Weiterlesen »