“Block shares surge 16% after company announces surprise profit”
February 28, 2024
“Block stock closed up 16% Friday, a day after the payments company reported fourth-quarter earnings that beat analysts’ estimates on gross profit and showed strong growth in its Square and Cash App revenue.
Here’s how the company did, compared to analysts’ consensus from LSEG, formerly known as Refinitiv:
- Earnings per share: 45 cents adjusted, not comparable to estimates
- Revenue: $5.77 billion vs. $5.70 billion expected
Block posted $2.03 billion in gross profit, up 22% from a year ago. Analysts tend to focus on gross profit as a more accurate measurement of the company’s core transactional businesses. The company raised its adjusted EBITDA forecast to at least $2.63 billion from $2.40 billion…”
https://www.cnbc.com/2024/02/22/block-sq-earnings-q4-2023.html