The creator of Jack Dorsey, co-founder and Twitter chairman and square co-founder and CEO speaks on stage at the Bitcoin 2021 conference, June 4, 2021 in Wenzhou The cryptocurrency conference held at the Mana Convention Center in Wynwood, held in Miami on June 4, 2021. Florida.
Joe Raedle | Getty Images
Blockage Thursday’s fourth-quarter results were reportedly not enough to meet Wall Street expectations. The stock fell more than 7% in expansion trading.
How the company does it compared to analyst consensus estimates.
- Earnings per share: 71 cents, adjusted with expected 87 cents
- income: $6.03 Billion USD vs. Expected USD 6.29 billion
Revenue increased by about 4.5% from $5.77 billion a year ago.
Block (formerly known as Square) made $2.31 billion in gross profit, up 14% from $2.03 billion a year ago. The company is an early leader in providing point-of-sale systems for smaller businesses, facing increased competition Toast and Fisevi’s Clover unit.
Total payments were US$61.95 billion. According to Streetaccount, the estimated defeat to analysts is $61.3 billion. Block released adjusted earnings ahead of interest, taxes, depreciation and amortization (EBITDA), at $757 million, respectively, surpassing the average analyst estimate of $740 million.
Block’s payment business has gone beyond traditional point-of-sale transactions, including loans and financial services. The company immediately acquired the Australian purchase, paid later companies for $29 billion in 2021, and integrated the service into the cash app and Square’s ecosystem.
CEO Jack Dorsey has positioned Block’s cash app card as a potential alternative to traditional credit cards and plans to deepen contact with Axple paid. Analysts see loans as the main driver of future monetization, some pointing to additional revenue opportunities for merchant services and advertising in cash applications.
Under Dorsey, Block strides into Crypto, creating a new unit focused on efforts in the field. However, last year, the company damaged some of these projects after failing to gain traction.
– CNBC’s Robert Hum contributed to the report.
