Block's Q4 Earnings Surge
Key points:
- Block's Q4 adjusted earnings rise to $0.45 per share
- Company's shares increase by nearly 16% in premarket activity
Block has reported a significant increase in its Q4 adjusted earnings, with a rise from $0.22 per diluted share a year earlier to $0.45 per diluted share. This announcement led to a nearly 16% increase in the company's shares in premarket activity on a recent Friday.
The company also raised its guidance for 2024 adjusted earnings before interest, taxes, depreciation, and amortization.
In terms of revenue, Block reported a total net revenue of $5.77 billion for the quarter ended Dec. 31, up from $4.65 billion the previous year. This exceeded the expectations of analysts who had predicted a revenue of $5.71 billion.