Block misses Q4 profit, revenue estimates. Stock is falling.
After missing fourth quarter estimates, Block, Inc. (XYZ) is falling in Thursday's extended hours. The financial services company fell short of net revenue ($6.03 billion vs. the $6.28 billion expected) and adjusted earnings ($0.71 vs. the $0.89 expected). The company, led by chairman and CEO Jack Dorsey, managed to beat on adjusted EBITDA, reporting $757 million (vs. the $741.6 million expected). Julie Hyman and Alexandra Canal review Block's latest earnings release following improvements made to the payment platform, outlined in Dorsey’s shareholder letter. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. This post was written by Luke Carberry Mogan.