Block (Square) Stock News

Block (NYSE: SQ) delivered disappointing 3Q FY2024 results, missing revenue estimates and guiding for a weak margin in 4Q due to delayed cost benefits pushed into FY2025. A continued deceleration in GPV growth in 3Q was driven by weather and hurricane impacts but management anticipates a rebound in 4Q, with significant acceleration expected in FY2025. I expect YoY growth in gross profit and adj...

Block CEO Jack Dorsey tweeted in 2021 that his company was starting a crypto unit called TBD and its "primary focus is #Bitcoin." Block said on Thursday that it was "winding down" TBD after a stretch of layoffs.

On Wall Street, what goes up must go down, and vice versa. A momentous week with a seesaw of volatility in the markets could be rightly chalked up to the seismic shifts from elections Tuesday (Nov. 5).

Buy now, pay later (BNPL) providers' shares reversed their months-long climbs Friday, sliding ahead of a close to the year seen as vital to expanding their businesses.

The stock has been underperforming, but the company is becoming more profitable.

Block reported decent Q3 '24 results, driven by Cash App's strength. Block's EBITDA grew 69% year-over-year, with margins expanding to 36%, supported by Cash App's momentum and an improved cost structure. Shares are attractively valued at 16.7X FY 2025 earnings, making Block a strong buy due to its rapid growth and profitability.

Fintech stocks Block Inc (NYSE:SQ) and Toast Inc  (NYSE:TOST) are staging opposite post-earnings reactions this morning.

Jack Dorsey's Block is scaling back its investment in TIDAL, the music streaming platform once owned by Jay-Z, according to a shareholder letter on Thursday. Block is also shutting down TBD, a Bitcoin-focused arm of the business that previously set out to build a decentralized internet, dubbed “Web5.