News Formal

Block shares surge after earnings beat and increased full-year guidance

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

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

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.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

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.
Källa: NBCLA - 🏆 319. / 59 Läs mer »

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.
Källa: CNBC - 🏆 12. / 72 Läs mer »