Overview
- Adjusted earnings came in at $0.54 per share versus a $0.67 consensus, with revenue of $6.11 billion trailing the $6.312 billion estimate.
- Shares fell roughly 10% to 11% in after-hours trading following the report, according to initial market readings.
- Block raised its fiscal 2025 gross profit outlook to about $10.24 billion, updating guidance higher despite the quarterly miss.
- Square generated $1.02 billion in gross profit with growth slowing to 9% year over year, while Bitcoin revenue declined to $1.97 billion.
- Cash App reached 58 million monthly transacting actives and gross profit per active rose about 25% to $94.16, as analysts flagged the profit miss and crowded positioning as drivers of the stock drop.