Block Inc rises 8% as Q1 gives ‘earnings surprise’ despite Bitcoin dip
The story
Block’s Q1 earnings beat estimates despite Bitcoin revenue falling 26% on changing Bitcoin “trading dynamics” and reducing fees on Cash App transactions.
From the source
Jack Dorsey’s payments firm Block rose 7.9% in after-hours trading as its Q1 earnings surpassed analyst estimates, despite posting its first loss in three years.
Block’s Q1 earnings came in at 85 cents per share, beating the Zacks consensus estimate of 68 cents per share. Investors responded positively, driving Block shares to $75.70 after hours, Google Finance data shows.
Who and what
Key names and topics in this story: Block Inc, Bitcoin.
Where to follow next
- Read the full piece at cointelegraph.com
- More from our Crypto & web3 coverage
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