Jack Dorsey is no stranger to playing the long game. But Block, the financial services and digital payments company formerly known as Square, missed Wall Street’s short-term estimates for its fourth quarter 2024 earnings and revenue numbers Thursday (Feb. 20), sending the stock down high single-digits in extended trading. Executives highlighted on Thursday’s investor call that Block, which was an early leader in providing point-of-sale systems for small and medium-sized businesses (SMBs), faces increased co ...

Block (XYZ) came out with quarterly earnings of $0.71 per share, missing the Zacks Consensus Estimate of $0.83 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -14.46%. A quarter ago, it was expected that this mobile payments services provider would post earnings of $0.88 per share when it actually produced earnings of $0.88, delivering no surprise.Over the last four quarters, the c ...

Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square speaks on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida.Block reported fourth-quarter results on Thursday that fell short of Wall Street expectations. The stock dropped more than 7% in extended trading.Here is how the company did, compared to analysts' consensus estimates from LSEG.Earnings per share: 71 cents, adjusted ...

Financial Performance - Q4 2024 gross profit reached $2.31 billion, representing a 14% year-over-year growth[8] - Cash App gross profit was $1.38 billion, with a 16% year-over-year growth, while Square gross profit was $924 million, reflecting a 12% year-over-year growth[8] - The company achieved a Rule of 40 score of 36.5 in 2024, with 18% gross profit growth and an 18% Adjusted Operating Income margin[41] - In Q4 2024, gross profit grew 14% year-over-year, with operating income of $13 million and Adjusted Operating Income of $402 million[42] - For 2025, the company expects gross profit growth of at least 15% year-over-year and aims to deliver $2.1 billion in Adjusted Operating Income[42] - Total net revenue for the twelve months ended December 31, 2024, was $24.12 billion, an increase of 10.0% from $21.92 billion in 2023[84] - Gross profit for the twelve months ended December 31, 2024, was $8.89 billion, compared to $7.50 billion in 2023, marking a 18.5% increase[84] - Operating income for the period was $892.33 million, a significant recovery from an operating loss of $278.84 million in 2023[84] - Net income attributable to common stockholders was $2.90 billion, a substantial increase from $9.77 million in the previous year[84] - Basic net income per share attributable to common stockholders was $4.70, compared to $0.02 in 2023[84] Cash Flow and Liquidity - Adjusted Free Cash Flow for the trailing twelve months ended December 31, 2024, was $2.1 billion, growing more than 4x year over year[59] - The company ended Q4 2024 with total liquidity of $10.7 billion, including $9.9 billion in cash and cash equivalents[61] - Cash flows from operating activities improved to $1,707,350, compared to $100,961 in the prior year, indicating a strong operational performance[86] - The company reported a net cash increase of $4,221,425 for the year, compared to $573,181 in the previous year, reflecting robust cash management[88] Customer Engagement and Growth - Cash App's paycheck deposit actives increased to 2.5 million, a 25% year-over-year increase, with significant growth in the second half of 2024[35] - Cash App Pay volumes grew more than 4x year-over-year to $4 billion in 2024[39] - Cash App Card reached 25 million monthly actives as of December 2024, with significant engagement from younger customers[37] - Cash App Borrow scaled to nearly $9 billion in originations over the past year, indicating strong customer demand for small loans[6] Revenue Streams - Transaction-based revenue reached $6.61 billion, up from $6.32 billion in the previous year, reflecting a growth of 4.7%[84] - Subscription and services-based revenue increased to $7.16 billion, a rise of 20.5% compared to $5.94 billion in 2023[84] - Bitcoin revenue grew to $10.20 billion, representing an increase of 7.4% from $9.50 billion in 2023[84] - The BNPL platform achieved a gross merchandise value of $10.3 billion, with gross profit of $298 million, up 23% year-over-year[54] Operating Expenses and Investments - Operating expenses in Q4 2024 were $2.298 billion, with product development expenses up 12% year-over-year[55] - Marketing spend for Square increased over 60% year-over-year in Q4 2024 to drive customer acquisition[31] - The company is investing heavily in applied AI tools to enhance productivity and efficiency across its operations[23] - The company plans to increase investment in go-to-market initiatives across Square and Cash App by more than 20% in 2025[63] Shareholder Returns - The company repurchased 2.3 million shares of Class A common stock for $183 million in Q4 2024, with $2.7 billion remaining under its share repurchase authorization[60] Future Projections - The company expects to exit 2025 at a Rule of 40 run rate, ahead of schedule, with continued momentum throughout the year[24] - The company remains committed to achieving Rule of 40 in 2026 and expects to exit 2025 at or above this target on a quarterly basis[42] - In Q1 2025, the company projects gross profit of $2.32 billion, with an expected year-over-year growth of 11%[67] - The company anticipates Adjusted Operating Income of $2.1 billion for 2025, equating to a margin of approximately 21% on gross profit[63] Asset Management - Total current assets increased to $19,880,201, up from $17,818,697, representing an increase of approximately 11.7% year-over-year[85] - Total assets reached $36,777,595, an increase of 11.1% from $33,031,308 in the previous year[85] - Long-term debt rose to $5,105,939, up from $4,120,091, indicating increased leverage to support growth initiatives[85] - Total stockholders' equity attributable to common stockholders increased to $21,267,932, up from $18,695,256, reflecting improved profitability and retained earnings[85] Adjusted Metrics - Adjusted EPS for Q4 2024 was $0.71, representing a 51% increase year-over-year[44] - Adjusted Operating Income for the twelve months ended December 31, 2024, was $1,608,790, significantly higher than $351,351 for the same period in 2023, reflecting a year-over-year increase of approximately 357%[94] - Adjusted EBITDA for the twelve months ended December 31, 2024, reached $3,029,031, up from $1,792,420 in 2023, marking an increase of approximately 68.9%[94] - The company reported a gross profit margin of 32% for the twelve months ended December 31, 2024, compared to a margin of 0% in 2023[94]

NEW YORK, Feb. 20, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Block, Inc. (NYSE: XYZ). Shareholders who purchased shares of XYZ during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/block-inc-loss-submission-form/?id=130550&from=3 CLASS PERIOD: February 26, 2020 to April ...

Exxon Mobil Corporation (XOM) is set to enhance natural gas production and supply in Guyana with a large-scale project following the government's call for increased gas resources to support onshore power and petrochemical initiatives, per a Reuters report. Alistair Routledge, head of ExxonMobil's operations in Guyana, unveiled the "Wales Gas Vision" at an energy conference in Georgetown, emphasizing its potential to supply gas for various power generation and petrochemical projects.The initiative followed t ...

NEW YORK, Feb. 20, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Block, Inc. (NYSE: XYZ).Shareholders who purchased shares of XYZ during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/block-inc-loss-submission-form/?id=130524&from=4CLASS PERIOD: February 26, 2020 to April 30, 2024 ...

Group 1 - Block Inc is expected to report fourth-quarter earnings of $0.88 per share on revenue of $6.29 billion, reflecting year-over-year increases of 95.6% in earnings and 9% in revenue [1] - The stock is currently down 0.7% at $83.58, with a three-month decline of 6.9% and a year-to-date decrease of 1.8%, although support from the 100-day moving average has helped contain losses [2] - Block has a strong earnings performance history, matching or exceeding estimates in six of the last eight quarters, and has moved higher in five of the last eight post-earnings sessions [3] Group 2 - Analysts remain bullish on Block, with 30 out of 37 analysts rating it a "buy" or better [4] - Options traders anticipate a significant post-earnings move, with an expected 13.9% swing in either direction based on the at-the-money straddle of options [3]

Block (XYZ) is set to report its fourth-quarter 2024 results on Feb. 20.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The Zacks Consensus Estimate for fourth-quarter revenues is currently pegged at $6.23 billion, indicating growth of 7.99% year over year. The consensus mark for earnings is currently pegged at 83 cents per share, up by a penny over the past 30 days. The figure indicates an 84.44% jump from the year-ago quarter’s reported figure.Block’s earnings beat the Zacks Consens ...

Eni SpA (E) , the Italian energy giant, has signed an agreement with Egypt and Cyprus for the development and export of gas from Cyprus’ Block 6 through Egypt’s existing infrastructure. The deal, signed in Cairo on Feb. 17, marks a significant step toward establishing an Eastern Mediterranean gas hub.The agreement, signed by Egypt’s minister of Petroleum Karim Badawi, Cyprus’ minister of Energy George Papanastasiou, Eni CEO Claudio Descalzi, and TotalEnergies, outlined a framework for the rapid development ...