Reported about 16 hours ago
Block Inc. experienced its largest stock drop in nearly five years, falling almost 18% to $68.35 following disappointing fourth-quarter earnings that missed analysts' expectations. The company's revenue rose to $6.03 billion but fell short of the anticipated $6.28 billion, and adjusted earnings were also below forecasts. Despite an increase in Cash App users and revenue from Bitcoin, the firm faces challenges with stagnant growth and regulatory scrutiny, highlighting the need for stronger performance in the competitive digital payments sector.
Source: YAHOO