Earnings

Block (SQ) earnings Q4 2022

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Expect Block to be up substantially tomorrow, says Baird's David Koning

Block stock rose nearly 8% in extended trading after the payments company reported fourth-quarter earnings that missed Wall Street expectations but posted strong growth in gross profit.

Here’s how Block did versus Refinitiv consensus expectations:

  • EPS: 22 cents, adjusted, versus expectations of 30 cents
  • Revenue: $4.65 billion versus expectations of $4.61 billion

Block posted $1.66 billion in gross profit, up 40% from a year ago. That beat Wall Street expectations of $1.53 billion.

Analysts tend to focus on gross profit as a more accurate measurement of the company’s core transactional businesses.

The company posted a (non-adjusted) net loss of $114 million, or 19 cents per share, for the…



Source cnbc.com

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