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Block Inc

Block Inc (SQ)

98.25
2.38
(2.48%)
Closed December 08 4:00PM
97.77
-0.48
(-0.49%)
After Hours: 7:59PM

Your Hub for Real-Time streaming quotes, Ideas and Live Discussions

Key stats and details

Current Price
97.77
Bid
-
Ask
-
Volume
9,410,656
96.04 Day's Range 98.819
55.00 52 Week Range 99.26
Market Cap
Previous Close
95.87
Open
97.50
Last Trade
60
@
97.85
Last Trade Time
Financial Volume
$ 920,310,276
VWAP
97.7945
Average Volume (3m)
7,601,475
Shares Outstanding
619,814,000
Dividend Yield
-
PE Ratio
6,218.35
Earnings Per Share (EPS)
0.02
Revenue
21.92B
Net Profit
9.77M

About Block Inc

Block, Inc., together with its subsidiaries, builds ecosystems focused on commerce and financial products and services in the United States and internationally. It operates through two segments, Square and Cash App. The Square segment offers commerce products for restaurants, appointments, retail, p... Block, Inc., together with its subsidiaries, builds ecosystems focused on commerce and financial products and services in the United States and internationally. It operates through two segments, Square and Cash App. The Square segment offers commerce products for restaurants, appointments, retail, point of sale, online, online checkout, and invoices, as well as virtual terminals, risk and order managers, and payment and commerce application programming interfaces; managed payment services; software solutions; hardware products, such as registers, terminals, stands, and readers for contactless and chips; banking services consisting of lending, instant transfer, and checking and savings accounts; and full-service setup and support services. This segment also provides loyalty, marketing, team management, and payroll services; and gift cards. Show more

Sector
Prepackaged Software
Industry
Prepackaged Software
Website
Headquarters
Wilmington, Delaware, USA
Founded
-
Block Inc is listed in the Prepackaged Software sector of the New York Stock Exchange with ticker SQ. The last closing price for Block was $95.87. Over the last year, Block shares have traded in a share price range of $ 55.00 to $ 99.26.

Block currently has 619,814,000 shares outstanding. The market capitalization of Block is $59.42 billion. Block has a price to earnings ratio (PE ratio) of 6218.35.

Block (SQ) Options Flow Summary

Overall Flow

Bullish

Net Premium

60M

Calls / Puts

415.44%

Buys / Sells

125.09%

OTM / ITM

110.21%

Sweeps Ratio

0.29%

SQ Latest News

Square, Afterpay, and Cash App Surpass Records This Black Friday and Cyber Monday With 144 Million Transactions

Data from Block’s commerce brands shows growth and adoption across in-store, online, mobile, and social channels Over the Black Friday and Cyber Monday weekend, sellers using Block’s ecosystem of...

Festive Foliage: Square Data Reveals the Best Time to Buy a Christmas Tree

According to last year’s data, Christmas tree sales are highest on Black Friday With the holiday season right around the corner, retailers are gearing up for the rush and restaurants are...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
18.39.2768525762889.4799.2688.46963506294.62050593CS
425.5935.453034081572.1899.2669.031173431888.22037133CS
1233.8452.932895354363.9399.2663.71760147579.20798785CS
2632.850.484839156564.9799.2655701649171.48334559CS
5231.9548.541476754865.8299.2655836641871.93426858CS
156-79.35-44.8001355014177.12195.2838.851244695878.57285906CS
26030.144.480567459767.67289.2332.3311667908108.27907162CS

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SQ Discussion

View Posts
DiscoverGold DiscoverGold 1 week ago
Block $SQ Monthly Chart vs. Quarterly Revenue Sleeping giant
By: TrendSpider | December 1, 2024

• $SQ Monthly Chart vs. Quarterly Revenue

Sleeping giant.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 1 week ago
Block $SQ pulling back on low volume into a key weekly pivot...
By: TrendSpider | November 30, 2024

• $SQ pulling back on low volume into a key weekly pivot...

It's either retest & go or a failed breakout from here.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 1 week ago
Cathie Wood & Ark Invest's Sells 110,712 Shares of Block Inc. (SQ)
By: Cheddar Flow | November 27, 2024

• Here's what moves Cathie Wood and Ark Invest made in the stock market today 11/27.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 3 weeks ago
Block Inc $SQ needs a weekly close above $90
By: TrendSpider | November 18, 2024

• $SQ needs a weekly close above $90.



Read Full Story »»»

DiscoverGold
👍️0
RubyMartin RubyMartin 1 month ago
Kathy Baby, ya just lost 1.25 Million. Ya sold 1 day too soon. 😄
👍️0
DiscoverGold DiscoverGold 1 month ago
Cathie Wood & Ark Invest's Sells 232,063 Shares of Block Inc. (SQ)
By: Cheddar Flow | November 4, 2024

• Cathie Wood and Ark Invest's trade activity from today 11/4.





Read Full Story »»»

DiscoverGold
👍️0
RubyMartin RubyMartin 1 month ago
Says the guy who keeps saying NVIDIA is going to go down. Why should we listen to you?
👍️0
DiscoverGold DiscoverGold 1 month ago
Cathie Wood & Ark Invest's Sells 243,549 Shares of Block Inc. (SQ)
By: Cheddar Flow | October 31, 2024

• Cathie Wood and Ark Invest's trade activity from today 10/31.



Read Full Story »»»

DiscoverGold
👍️ 1
STOCKMONSTER STOCKMONSTER 1 month ago
THIS PIG IS SO OVER!!!!!!!!!!!!!!!!!!!!!!!!!1 MUAHAHAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1
👍️0
DiscoverGold DiscoverGold 1 month ago
When a Managing Partner at Sequoia Capital (who is also a $SQ insider) buys the dip, it’s worth paying attention
By: TrendSpider | October 28, 2024

• When a Managing Partner at Sequoia Capital (who is also a $SQ insider) buys the dip, it’s worth paying attention.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 2 months ago
Not all insiders are created equal, but the ones with a good track record are worth watching: This one at $SQ bought aggressively back in November 2023 just before a massive run
By: TrendSpider | October 19, 2024

• Not all insiders are created equal, but the ones with a good track record are worth watching:

This one at $SQ bought aggressively back in November 2023 just before a massive run.

Fast forward to the August dip & they were back at it again, now up +35% just two months later.



Read Full Story »»»

DiscoverGold
👍️0
RubyMartin RubyMartin 2 months ago
Miss Wood should be kicking herself bout now.
👍️0
DiscoverGold DiscoverGold 2 months ago
Cathie Wood & Ark Invest's Sells 23,473 Shares of Block Inc. (SQ)
By: Ark Invest Daily | October 17, 2024

• Cathie Wood and Ark Invest's trade activity from yesterday 10/16.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 2 months ago
Cathie Wood & Ark Invest's Sells 17,816 Shares of Block Inc. (SQ)
By: Ark Invest Daily | October 16, 2024

• Cathie Wood and Ark Invest's trade activity from yesterday 10/15.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 2 months ago
$SQ looks just about ready to follow in $PYPL's footsteps...
By: TrendSpider | September 30, 2024

• $SQ looks just about ready to follow in $PYPL's footsteps...



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 3 months ago
Remember this $SQ insider buy from August 5th that we alerted a few weeks back? Already up +20% on his $25M position.
By: TrendSpider | September 1, 2024

• Remember this $SQ insider buy from August 5th that we alerted a few weeks back?

Already up +20% on his $25M position.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 4 months ago
$SQ Right shoulder forming?
By: TrendSpider | August 17, 2024

• $SQ Right shoulder forming?



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 4 months ago
Insiders buy for one reason and one reason only...
By: TrendSpider | August 16, 2024

• Insiders buy for one reason and one reason only...

Because they think the stock will go up. $SQ



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 4 months ago
$SQ Board Member Buying the Dip Again. Insider Botha Roelof purchased $25,000,000 in shares this week
By: TrendSpider | August 9, 2024

• $SQ BOARD MEMBER BUYING THE DIP AGAIN

Insider Botha Roelof purchased $25,000,000 in shares this week.

The last time he bought was in November 2023, right before a MASSIVE rally.



Read Full Story »»»

DiscoverGold
👍️0
Hitman970 Hitman970 4 months ago
Cathie Wood is all hype.
👍️0
DiscoverGold DiscoverGold 4 months ago
Cathie Wood & Ark Invest's Sells 440,647 Shares of Block Inc. (SQ)
By: Ark Invest Daily | August 6, 2024

• Cathie Wood and Ark Invest's trade activity from today 8/6.







Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 4 months ago
Cathie Wood & Ark Invest's Sells 328,858 Shares of Block Inc. (SQ)
By: Ark Invest Daily | August 5, 2024

• Cathie Wood and Ark Invest's trade activity from today 8/5.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 5 months ago
Block $SQ nice move here. 70 then 74 next resistance levels
By: Options Mike | July 14, 2024

• $SQ nice move here.

70 then 74 next resistance levels.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 5 months ago
$SQ Wedge breakout + 200D SMA reclaim...
By: TrendSpider | July 12, 2024

• Wedge breakout + 200D SMA reclaim...

Not too shabby! $SQ



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 5 months ago
Block $SQ Nice candle, maybe over 66 it's a long
By: Options Mike | July 7, 2024

• $SQ Nice candle, maybe over 66 it's a long

50D at 57.4 close



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 5 months ago
Bull of the Day: Block (SQ)
By: Zacks Investment Research | July 5, 2024

With the Q2 earnings season set to ramp up following the fourth of July holiday, Block (SQ) is a tech stock that looks poised for a rebound leading up to its quarterly results in early August.

The innovative provider of point of sales solutions (POS) appears to be overlooked as SQ has now fallen -26% from its 52-week high of $87 a share in March.

Still, the expansive growth Block was able to display in Q1 is thought to have continued and strong financial results can of course lead to upward momentum for stocks.

Keeping this scenario in mind, Block’s stock currently sports a Zacks Rank #1 (Strong Buy) and is the Bull of the Day.

Q2 Sneak Preview

Investors are always looking for stocks that are expected to post robust quarterly growth and improved financial fundamentals and Block is on this radar.

Another quarter of double-digit top and bottom-line growth appears to be in the cards with Q2 sales projected to rise 13% to $6.29 billion and EPS projections of $0.75 would reflect a 92% increase from $0.29 a share in the comparative quarter.

Block is becoming a staple of the new American economy

Notably, Cash app's popularity has been the primarily catalyst to Block’s expansion along with hardware POS offerings such as its patented Square Reader machines with the company having a comprehensive commerce suite that fuels entrepreneurship by helping sellers grow their businesses.

CEO Jack Dorsey has also strived for other routes to keep up Block’s relevance and expansion from acquiring hip-hop mogul Jay-Z’s tidal music platform in 2021 to offering crypto-related services. In addition to develping a full bitcoin mining system Block provides a Bitcoin Hardware Wallet which offers storage for bitcoin holders.

Loosely speaking, Block may be a more affordable option for investors seeking exposure to bitcoin than Coinbase (COIN Quick QuoteCOIN - Free Report) while being a safter choice in regards to other crypto miners such as Marathon Digital (MARA Quick QuoteMARA - Free Report) or Riot Platforms (RIOT Quick QuoteRIOT - Free Report) . That notion is only magnified when considering Block’s diverse business operations along with the fact that the price of Bitcoin has soared in the last year and currently sits over $60,000.

Price of Bitcoin


Image Source: Microsoft Bing via Refinitiv

Growth Trajectory

Overall, Blocks total sales are projected to increase 15% in fiscal 2024 and are slated to expand another 12% in FY25 to $28.22 billion. More impressive, annual earnings are now expected to soar 73% this year to $3.11 per share versus $1.80 a share in 2023. Plus, FY25 EPS is projected to climb another 30% to $4.04.

Better still, Block’s stock is trading at 20.7X forward earnings and at 1.7X sales which are much more reasonable valuations than the stretched premiums it has commanded in the past.



Bottom Line

Block is once again becoming one of the most appealing business services companies to invest in at the moment. While it may be too soon to call Block’s stock an absolute steal at current levels, a sharp rebound looks justified considering the company’s attractive growth trajectory and innovative business offerings.

Read Full Story »»»

DiscoverGold
👍️ 1
DiscoverGold DiscoverGold 5 months ago
$SQ has also been red just once in July since going public back in 2015...
By: TrendSpider | July 5, 2024

• $SQ has also been red just once in July since going public back in 2015...

Technicals & Seasonality starting to align here.



Read Full Story »»»

DiscoverGold
👍️0
hotdawg hotdawg 5 months ago
What happen here?
👍️0
DiscoverGold DiscoverGold 6 months ago
$SQ Any month now...
By: TrendSpider | June 1, 2024

• $SQ Any month now...



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 7 months ago
Cathie Wood & Ark Invest's Sells 210,591 Shares of Block Inc. (SQ)
By: Ark Invest Daily | May 14, 2024

• Cathie Wood and Ark Invest's trade activity from today 5/14.





Read Full Story »»»

DiscoverGold
👍️0
1984ISHERE 1984ISHERE 7 months ago
It's hip to be square
👍️0
DiscoverGold DiscoverGold 7 months ago
Cathie Wood & Ark Invest's Sells 110,334 Shares of Block Inc. (SQ)
By: Ark Invest Daily | May 13, 2024

• $SPX seemingly range bound between 0.75 and 1.0 std dev. Waiting to see signs of direction.





Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 7 months ago
Block (SQ) Stock Higher on Quarterly Beat, Forecast
By: Schaeffer's Investment Research | May 3, 2024

• The fintech company plans to buy more Bitcoin (BTC)

• Analysts and options traders are responding to the results

Fintech stock Block Inc (NYSE:SQ) is up 3.8% to trade at $72.98 at last check, after the company announced better-than-expected first-quarter earnings of 85 cents per share on $5.96 billion in revenue. In addition, Block revealed plans to buy more Bitcoin (BTC) and hiked its annual forecast.

Needham raised its priced target to $105 following the results, and TD Cowen adjusted up to $92, both of which are healthy premiums to SQ's current perch. The majority of analysts are bullish on the equity, with 29 of 37 in coverage recommending a "buy" or "strong buy."

Options traders are piling on as well, with 41,000 calls and 23,000 puts exchanged so far -- overall volume that is six times the intraday average amount. The most popular contract is the weekly 5/3 75-strike call.

On the charts, today's pop is losing steam at Block stock's 30-day moving average -- a trendline that acted as resistance for most of April. Nevertheless, the equity still boasts a more than 24% year-over-year lead, and added roughly 53% during the past six months.

Read Full Story »»»

DiscoverGold
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DiscoverGold DiscoverGold 7 months ago
Block $SQ Just Reported Earnings: Double Beat
By: Evan | May 2, 2024

• SQUARE $SQ JUST REPORTED EARNINGS

EPS of $0.74 beating expectations of $0.73
Revenue of $5.96B beating expectations of $5.82B

Read Full Story »»»

DiscoverGold
👍️0
eastunder eastunder 7 months ago
SQ reports 5-2 After close

Cpps at time of post 66.95

👍️0
eastunder eastunder 7 months ago
Market Chatter: Block Under Probe for Alleged Compliance Malpractices
10:46:23 AM ET, 05/01/2024 - MT Newswires

10:46 AM EDT, 05/01/2024 (MT Newswires) -- Block (SQ) is said to be under probe for alleged compliance lapses at its Square and Cash App units, NBC News reported Wednesday, citing two unnamed sources familiar with the matter.

NBC said prosecutors from the Southern District of New York are looking into the company's documents and internal practices after a former employee disclosed certain malpractices within the group. According to the former employee, Block collected insufficient information for Square and Cash App customers' risk assessment, Square processed thousands of transactions involving countries with economic sanctions, and Block processed cryptocurrency transactions for terrorist groups.

The former employee provided about 100 pages of supporting documents to NBC and said Block did not correct the processes when informed of the transactions, the report added. NBC said a second source familiar with the company's practices and monitoring programs backed the former employee's allegations.

According to NBC, a Block spokeswoman said the company voluntarily reported the transactions described by the former employee to the Office of Foreign Assets Control under the US Treasury and that the company maintains a "responsible and extensive compliance program."

Block did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
👍️0
DiscoverGold DiscoverGold 7 months ago
Block $SQ Not a bad setup to keep your eyes on heading into next week
By: TrendSpider | April 26, 2024

• Not a bad setup to keep your eyes on heading into next week. $SQ



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 7 months ago
Cathie Wood & Ark Invest's Sells 212,715 Shares of Block Inc. (SQ)
By: Ark Invest Daily | April 25, 2024

• Cathie Wood and Ark Invest's trade activity from today 4/25.



Read Full Story »»»

DiscoverGold
👍️ 1
DiscoverGold DiscoverGold 8 months ago
$SQ One of the hotter weekly setups heading into April
By: TrendSpider | March 28, 2024

• $SQ One of the hotter weekly setups heading into April.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 8 months ago
Cathie Wood & Ark Invest's Sells 95,178 Shares of Block Inc. (SQ)
By: Ark Invest Daily | March 25, 2024

• Cathie Wood and Ark Invest's trade activity from today 3/25.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 9 months ago
Cathie Wood & Ark Invest's Sells 188,519 Shares of Block Inc. (SQ)
By: Ark Invest Daily | March 21, 2024

• Cathie Wood and Ark Invest's trade activity from today 3/21.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 9 months ago
Cathie Wood & Ark Invest's Sells 42,608 Shares of Block Inc. (SQ)
By: Ark Invest Daily | March 20, 2024

• Cathie Wood and Ark Invest's trade activity from yesterday 3/20.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 9 months ago
Cathie Wood & Ark Invest's Sells 9,437 Shares of Block Inc. (SQ)
By: Ark Invest Daily | March 19, 2024

• Cathie Wood and Ark Invest's trade activity from today 3/19.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 9 months ago
Cathie Wood & Ark Invest's Sells 110,659 Shares of Block Inc. (SQ)
By: Ark Invest Daily | March 18, 2024

• Cathie Wood and Ark Invest's trade activity from today 3/18.



Read Full Story »»»

DiscoverGold
👍️0
DiscoverGold DiscoverGold 9 months ago
$SQ Breaking out to new 52-week highs right out the gate this morning!
By: TrendSpider | March 13, 2024

• $SQ Breaking out to new 52-week highs right out the gate this morning!



Read Full Story »»»

DiscoverGold
👍️0
Monksdream Monksdream 9 months ago
SQ new 52 week high
👍️0
DiscoverGold DiscoverGold 9 months ago
$SQ Keep an eye on Block this week, C&H setup with 8 new analyst buy ratings following last month's earnings report.
By: TrendSpider | March 11, 2024

• $SQ Keep an eye on Block this week, C&H setup with 8 new analyst buy ratings following last month's earnings report.



Read Full Story »»»

DiscoverGold
👍️0
Monksdream Monksdream 9 months ago
SQ new 52 week high
👍️0
eastunder eastunder 10 months ago
Jack Dorsey's plan to reshape Square
Kate Fitzgerald
Fri, February 23, 2024 at 12:50 PM MST·5 min read
https://finance.yahoo.com/news/jack-dorseys-plan-reshape-square-195021334.html

After retaking day-to-day control as CEO of Square last fall, Jack Dorsey, who also heads Square's parent company, Block, surprised analysts with fourth-quarter profits that exceeded expectations, in part through aggressive cost-cutting. And he's just getting started.

Next, Dorsey aims to overhaul the 15-year-old Square app so that it works more cleanly with Block's booming peer-to-peer Cash App to act like a bank for sellers and others.

Block's goal is for Cash App to become one of the top providers of banking services to U.S. households earning up to $150,000 annually. The company will beef up the financial tools it offers, and make the P2P app the go-to banking source for Square sellers, Dorsey told analysts during a conference call to discuss earnings Thursday.

"We're going to start putting our Square customers first and foremost in the Cash App, and you'll really see the power of our combined ecosystems and a combined network," Dorsey said, noting that Cash App P2P features position the entity to operate as a "social bank."

The plan hinges on expanding features within Block's Cash App and the Cash App Card to close the distance between its own offerings and those of a bank. Block plans to add mobile check deposit, bill payment and wire transfers, Dorsey said in a shareholder's letter also released Thursday.

Cash App already offers a Visa debit card, two-days-early direct deposit, cash deposits, instant discounts on debit spending and an FDIC-insured savings account with no minimum balance and free overdraft insurance. Cash App also offers short-term credit through Borrow, as well as stocks and bitcoin services. Its banking services are supported by Sutton Bank and Lincoln Savings Bank.

As Block's consumer banking ambitions expand, so will scrutiny of the firm's payments security and regulatory compliance. Reports recently circulated that two whistleblowers have filed a complaint with the Financial Crimes Enforcement Network, the Securities and Exchange Commission and the Commodities Futures Trading Commission about Cash App's potential use by criminals for money laundering and terrorism financing.

Dorsey told analysts that Block is investing more deeply in security and compliance this year, adding that it means "continued focus on risk and fraud management, including protecting our customers from bad actors who attempt to abuse our platform through vectors like scams and phishing attacks," but he did not directly confirm any regulatory probes. Block did not respond to emailed inquiries about this topic.

Many of Dorsey's moves are aimed at shoring up internal operations that had frayed over the last decade when Dorsey wasn't directly managing the company, culminating in the sudden exit last year of Square's longtime CEO Alyssa Henry.

Robert Anderson, a Square founder, is rejoining the company "to focus on making design at Square world-class again," Dorsey said.

A top priority this year will be tightening the integration across Square sellers, Cash App and Afterpay, the company's buy now/pay later arm. Block immediately plans to eliminate "four or five" different versions of the Square app that previously targeted different user groups, creating a single app called Square, with tabs for users to access services targeting sole proprietors or restaurants, for example.

Block also plans to promote Afterpay within Cash App by displaying BNPL offers there, and also by inviting Afterpay app users to fund BNPL purchases with the Cash App Card, he said.

To boost growth at Square, the firm is trying out a new "pay as you go" model, offering some sellers free point-of-sale hardware in exchange for a higher card-processing rate. Square is also offering restaurants a bundle of business-management software tools at a discounted rate, and offering sellers new incentives for referrals.

Asked about the possibilities for expanding Square distribution through banks, Dorsey noted that years ago Square partnered with JPMorgan Chase to distribute Square readers through Chase's bank branches and "it wasn't that effective."
Noting that some banks are succeeding in distributing mobile payment acceptance tools through branches, Dorsey said he's still open to the idea, but it's secondary to the immediate need to modernize Square itself, including through the use of generative AI.

"[AI] is going to be extremely impactful for us as we look at everything that we're doing and all the tools that we're building and how much more productive it makes all of our engineers," Dorsey said. Additionally, AI "allows us to ship faster, allows us to correct mistakes much faster and really be ahead of the market," he said.

Block's gross profit for the fourth quarter was $2 billion, up 22% over the same period a year earlier. Cash App generated $1.2 billion, up 25% year over year. Square alone contributed $828 million to gross profit, up 18% year over year.

For the full year, Block's gross profit was $7.5 billion, up 25% over 2022.

Block raised its 2024 profit forecast by more than $200 million, and the company now expects to produce gross profit of $8.65 billion, which would be 15% above 2023.

The company has also cut staff through layoffs and attrition so employees number under 12,000, a level Dorsey plans to keep in place for the next several years, he said.

"We sense that work is underway to enhance growth by improving product velocity," said analysts at JPMorgan in a Thursday note to investors, adding: "The overall momentum of Cash App is impressive."
👍️ 1
DiscoverGold DiscoverGold 10 months ago
What to Expect from This Fintech Firm's Earnings
By: Schaeffer's Investment Research | February 21, 2024

• Block is expected to report earnings after tomorrow's close

• The stock has a tendency to move higher after quarterly results

Block Inc (NYSE:SQ) is slated to step into the earnings confessional after the market closes tomorrow, Feb. 22. Wall Street is anticipating the fintech concern's earnings to come in at 47 cents per share on revenue of $5.43 billion, representing a year-over-year gain for both figures.

Looking at Block's earnings history, its shares were higher after five of its past eight post-earnings sessions, including a 10.7% pop after its November report. In the last eight quarters, SQ averaged a swing of 8.9%, regardless of direction. This time around, the options market is pricing in a much larger move of 18.2%.

Ahead of the vent, Block stock is down 2.6% to trade at $64.03 at last glance. The $64 level and its 80-day moving average are both keeping the equity's pullback in check, as is stands well above its annual lows near the $38 area. While SQ is up 11.6% over the last six months, it sports notable double-digit percentage losses in 2024 and over the last 12 months.



Despite this year's underperformance, call traders have taken an increased interest in the stock. This is per Block stock's 10-day call/put volume ratio of 3.06 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than all but 6% of readings from the past year, showing calls being snatched up at a much faster-than-usual rate in the last two weeks.

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