Block shares fall on profit, revenue miss
Publishing timestamp: 2025-02-20 21:17:44
Summary
Block reported weaker-than-expected revenue and profit for the fourth quarter, underperforming Nasdaq in 2024. The company faces increased competition in the point-of-sale systems market but is expanding its payments business. Block acquired Afterpay and is integrating its services into Cash App. The company is also making a big jump into bitcoin mining with the goal of opening it up to the masses. CEO Jack Dorsey envisions a single financial ecosystem with Cash App at the center.
Sentiment: MIXED
Tickers: XYZ, XYZ?QSEARCHTERM=BLOCK, TOST, FISV,
Keywords: fintech, bitcoin/usd coin metrics, cryptocurrency, jack dorsey, bitcoin, technology, business news, toast inc, block inc, fiserv inc, earnings, energy,
Source: https://www.cnbc.com/2025/02/20/block-xyz-earnings-q4-2024.html