Square-parent Block ( SQ ) reported fourth-quarter earnings that missed estimates while revenue and gross profit edged by Wall Street targets. SQ stock rose as its 2023 outlook for a key financial metric met views. Square earnings for the quarter ending Dec. 31 were 22 cents per share on an adjusted basis, down 21% from the year-earlier period. Analysts had projected earnings of 30 cents a share. Also, Square said net revenue rose 14% to $4.65 billion, including Cash App transactions for digital cryptocurrency Bitcoin. SQ stock analysts had predicted revenue of $4.62 billion. Financial analysts also view gross profit as a key metric for SQ stock. Gross profit came in at $1.66 billion, up 40%, vs. estimates of $1.63 billion. Gross payment volume from merchant customers rose 14% to $48.6 billion, missing estimates of $55.35 billion. SQ Stock: Cash App Beats Views But Jefferies analyst Trevor Williams said Cash App beat expectations. "Top-line upside in Cash App on 45% year-over-year revenue growth, excluding Afterpay, offset a GPV-driven miss," he said in a note to clients. The Square Cash App helps individuals manage money and buy stocks and cryptocurrency. Shares in Block initially fell in extended trading then rose […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
