Block (SQ 0.91%) stock has always seemed a little weird to me -- even before it changed its name from "Square," to "Block," but forgot to tell its ticker symbol.One of the hottest stocks of the late 2010s, shares of this early fintech stock really took off during the coronavirus pandemic in 2020-21 as investors warmed to its contactless payment technology. The weird thing, though, is that 2020 was the year after Block's profits had already peaked, and its earnings began to decline -- ultimately hitting a na ...

Sean Zanni Prelude I initially covered Block (NYSE:SQ) in February of 2023 noting that Block has very strong growth prospects with the primary risk of stock-based comp equity dilution. Management executed well on the growth thesis in 2023 and addressed equity dilution risk with a buyback program which led to my most recent Buy rating in December of 2023. The recent earnings report strengthened my growth thesis and I am upgrading Block to a Strong Buy in this article. Revenue came in $63.59m above estima ...

Block (SQ) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this mobile payments services provider have returned +8.2%, compared to the Zacks S&P 500 composite's +3.8% change. During this period, the Zacks Technology Services industry, which Block falls in, has gained 17.4%. The key question now is: What could be the stock's future direction?Although media ...

GOCMEN Block (NYSE:SQ) reported better than expected earnings for its fourth fiscal quarter on Thursday which were driven by continual growth momentum in the Cash App ecosystem and the Fintech submitted a strong guidance for FY 2024 adjusted EBITDA as well. The financial services and digital payments company generated a record amount of gross profits and adjusted EBITDA in the 2023 fiscal year, and with continual growth in its core businesses, I believe Block remains an attractive play in the Fintech sp ...

Block (SQ) delivered fourth-quarter 2023 adjusted earnings of 45 cents per share, which improved 104.5% year over year. However, the figure missed the Zacks Consensus Estimate by 22.4%.Net revenues of $5.77 billion surpassed the Zacks Consensus Estimate of $5.69 billion. The top line increased 24% from the prior-year quarter.Year-over-year revenue growth was driven by strong momentum across the Cash App ecosystem, which contributed $3.91 billion to net revenues for the reported quarter, up 31% year over yea ...

Twitter founder Jack Dorsey’s bitcoin-focused fintech venture Block Inc (NYSE:SQ) (formerly Square), which runs the popular Cash App, clocked over $21.9 billion in net revenues in 2023, marking a 25% increase from 2022. Bitcoin-based revenues accounted for the lion’s share of revenues, with $9.5 billion accrued from purchases and sales of the benchmark cryptocurrency. However, extremely tight spreads mean gross bitcoin profits were less than 3%. Block applies a small margin when facilitating bitcoin purchas ...

Key TakeawaysBlock shares moved sharply higher after the company reported a surprise quarterly profit and issued current-quarter and full-year guidance that topped estimates.The company said its Cash App business performed strongly during the quarter, reporting a 20% year-on-year jump in non-Bitcoin revenue, and had 56 million monthly transacting active users in December.The Square share price may encounter resistance around $80 from a trendline connecting several prominent swing highs over the past 18 mont ...

Block, Inc. (NYSE:SQ) Q4 2023 Earnings Conference Call February 22, 2024 5:00 PM ET Company Participants Nikhil Dixit - Head of Investor Relations Jack Dorsey - Block Head, Square Head, Chairman, and Co-Founder Amrita Ahuja - Chief Operating Officer and Chief Financial Officer Conference Call Participants Tien-Tsin Huang - J.P. Morgan Timothy Chiodo - UBS Darrin Peller - Wolfe Research Mike Ng - Goldman Sachs Harshita Rawat - Bernstein Trevor Williams - Jefferies Bryan Bergin - TD Cowen Kenneth Suchoski - A ...

Block Inc. has been focused on getting leaner, and that paid off for the Square parent company in the latest quarter as it posted a surprise profit.Shares climbed more than 13% in Thursday’s extended session as Block also delivered an upbeat bottom-line forecast.The company on Thursday recorded fourth-quarter net income of $10 million, or 2 cents a share, whereas it posted a loss of $541 million, or 93 cents a share, in the year-earlier period. Analysts tracked by FactSet had been expecting a 1 cent loss pe ...

For the quarter ended December 2023, Block (SQ) reported revenue of $5.77 billion, up 24.1% over the same period last year. EPS came in at $0.45, compared to $0.22 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $5.69 billion, representing a surprise of +1.47%. The company delivered an EPS surprise of -22.41%, with the consensus EPS estimate being $0.58.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expect ...