News Formal

Block shares surge after earnings beat and strong Square, Cash App growth

  • 📰 CNBC
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 72%

Nederland Nieuws Nieuws

Nederland Laatste Nieuws,Nederland Headlines

There was particularly strong growth in Block's payment platform, Cash App, and its point-of-sale suite, Square.

Cash App revenue was $3.58 billion, growing 34% year-over-year, while Square revenue grew 12% year-over-year to $1.98 billion.

"We've been quiet lately because we've been focused," Block co-founder Jack Dorsey said in a letter to shareholders. Block was the target of athis year which alleged its Cash App product facilitated fraud. "We want to thank all of you for your trust and continued belief in our work. We will work to balance that trust with accountability, some of which I hope this letter provides," Dorsey's letter concluded.

Dorsey said the company would focus on its go-to-market strategy, targeting local restaurants and services businesses to grow, and would refocus engineering talent using A.I. technology.

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

 /  🏆 12. in NL
 

Bedankt voor uw reactie. Uw reactie wordt na beoordeling gepubliceerd.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Block shares surge after earnings beat and strong Square, Cash App growthThere was particularly strong growth in Block’s payment platform, Cash App, and its point-of-sale suite, Square.
Bron: NBCLA - 🏆 319. / 59 Lees verder »