Block delivers a surprise profit, and its stock is surging

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 ...