Block Stock Surges on Surprise Quarterly Profit and Guidance Beat—Key Level to Watch

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 ...