Block Inc. Beats 4Q Expectations as Transaction Revenue Rises
24 Febbraio 2022 - 11:04PM
Dow Jones News
By Robert Barba
Financial services company Block Inc. reported
better-than-expected results in the fourth quarter as
transaction-based revenue rose more than 40%.
The company, which changed its name from Square Inc. to Block in
December, reported a net loss to common shareholders of $76.8
million, compared with earnings of $294 million a year earlier. On
a per share basis, the loss was 17 cents, compared with a profit of
59 cents a year earlier.
On an adjusted basis, the company had earnings of 27 cents a
share. Analysts polled by FactSet expected adjusted earnings of 23
cents a share.
Total net revenue was $4.08 billion, up from $3.16 billion a
year earlier. Analysts expected revenue of $4.04 billion.
Transaction-based revenue rose nearly 41% to $1.31 billion,
while bitcoin revenue rose nearly 12% to $1.96 billion.
The company said its gross payment volume in the quarter was
$46.3 billion, up 45% from a year earlier.
In December, the company said its new name encompasses its
various businesses better than Square, which is mostly associated
with its merchant-payment services.
Write to Robert Barba at Robert.Barba at
robert.barba@wsj.com
(END) Dow Jones Newswires
February 24, 2022 16:49 ET (21:49 GMT)
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