Block Faces Revenue Challenges Amid Restructuring and Market Reactions
TL;DR
Square-parent Block reported third-quarter earnings that met expectations but missed on revenue, causing Square stock to fall over 2% in extended trading. The company reported adjusted earnings of 88 cents per share, matching analyst estimates, but revenue of $5.98 billion fell short of the expected $6.24 billion. Gross profit rose 19% to $2.25 billion, slightly above estimates, while EBITDA increased 69% to $807 million, surpassing projections. However, guidance for the fourth quarter and 2025 was weaker than anticipated, contributing to the stock's decline.
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