Block shares tumbled in extended trading on Thursday after the company reported third-quarter revenue that trailed Wall Street expectations.
Here is how the company did, compared to analysts’ consensus estimates from LSEG.
Earnings per share: 88 cents adjusted vs. 87 cents expected
Revenue: $5.98billion vs. $6.24 billion expected
Block, formerly known as Square, posted $2.25 billion in gross profit, up 19% from a year ago. Analysts tend to focus on gross profit as a more accurate measurement of the company’s core transactional businesses.
The company reported net incomeof $283.7 million, or 45 cents per share, after losing $88.7 million, or 15 cents a share, a year earlier.
Block’s third-quarter earnings call starts at 5 P.M. Eastern time.
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