Block Shares Drop 12% Following Disappointing Q4 Earnings and Outlook

The fintech firm missed Wall Street expectations as consumer spending slowed, with 2025 seen as a pivotal year for growth.

Block reported Q4 2024 earnings per share of $0.71 and revenue of $6.03 billion, falling short of analyst expectations of $0.90 EPS and $6.32 billion in revenue.
CEO Jack Dorsey highlighted organizational changes in 2024 aimed at accelerating growth and expressed optimism for financial momentum in 2025.
The company is focusing on expanding its buy-now, pay-later (BNPL) services, which analysts see as a key growth driver in a competitive digital payment space.
Block's Cash App and Square units reported slower gross profit growth compared to the previous year, raising concerns about their long-term growth trajectories.
Block also plans to expand its Bitcoin mining operations, with its new mining system expected to contribute to growth in the latter half of 2025.