Block Stock Falls After Revenue, Earnings Miss Expectations

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Fri, February 21, 2025

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Block Stock Falls After Revenue, Earnings Miss Expectations

^{Published on 2025-02-21 10:40:56 - Kiplinger}

Block stock is down Friday after the payments company missed expectations for its fourth quarter. Here's what you need to know.

Block Inc., formerly known as Square, experienced a significant drop in its stock price after reporting quarterly earnings that fell short of Wall Street's expectations. The company's revenue for the quarter was $4.99 billion, which was below the anticipated $5.01 billion, and its adjusted earnings per share came in at 40 cents, missing the consensus estimate of 47 cents. Despite these misses, Block highlighted growth in its Cash App and Square ecosystems, with Cash App's gross profit increasing by 33% year-over-year. However, the company faced challenges including a slowdown in Bitcoin revenue and higher operating expenses. CEO Jack Dorsey emphasized the company's focus on expanding its user base and enhancing product offerings, although these efforts did not immediately reassure investors, leading to a 12% decline in stock value in after-hours trading.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/investing/stocks/block-stock-falls-after-revenue-earnings-miss-expectations ]

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