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Block, the fintech company led by Jack Dorsey, reported strong Q4 earnings with revenue up 24% YoY to $5.77B. Square's profit rose 18% YoY, Cash App's profit increased by 25% YoY. Block's Bitcoin sales generated $2.5B in revenue, up 37% YoY. The company's stock surged 12-16% post-earnings, beating Wall Street estimates and delivering a surprise profit.
JACK DORSEY’S BLOCK REPORTS $207M GAIN ON BITCOIN HOLDINGS The company held 8,038 BTC valued at $340 million at the end of 2023. Cash App witnessed 90% YoY increase in gross profit from Bitcoin sales, reaching $66 million. Source: CoinDesk https://t.co/Y6sSJXWwr0
$ADYEY was +20% in earnings a weeks ago. $SQ +15% today. Bodes well for $FOUR next week.
Shares of Block Inc $SQ surged 16.13% on Friday on the back of the company reporting strong fourth-quarter results: https://t.co/jCyKjlf0aV How Block Inc $SQ Makes Its Money: https://t.co/3AiiBySU2S https://t.co/bZ9dEHDBE0