Reported about 4 hours ago
Block's third-quarter profits fell short of Wall Street estimates due to a slowdown in consumer spending and increased competition, leading to an 11% drop in share prices. The company reported gross profits of $1.02 billion from its Square segment, although growth had decelerated. Bitcoin revenue also saw a decline, impacting overall performance despite a stronger showing from Cash App. Adjusted net income was lower than anticipated, resulting in further stock losses amidst ongoing economic uncertainty.
Source: YAHOO