Block shares plunge 18%, for worst day on market in 5 years after earnings miss
Publishing timestamp: 2025-02-21 16:26:24
Summary
Block shares plunged 18% after reporting fourth-quarter earnings that missed estimates and issuing guidance for 2025 that failed to reassure investors. Competition in the point-of-sale market is increasing, with Square losing market share to competitors like Toast and Fiserv's Clover. Despite some growth in payment volume and Cash App, concerns remain about user growth and the company's turnaround timeline. CEO Jack Dorsey emphasized long-term success through continued integration of financial services products and Bitcoin initiatives.
Sentiment: NEGATIVE
Tickers: XYZ, TOST, FISV, FOUR,
Keywords: earnings, cryptocurrency, bitcoin, fintech, shift4 payments inc, block inc, jack dorsey, business news, toast inc, fiserv inc, energy, technology,
Source: https://www.cnbc.com/2025/02/21/block-shares-head-for-worst-day-in-5-years-after-earnings-miss.html