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Jack DORSEY Creator, co -founder and president of Twitter and co -founder and CEO of Square Speaks on the stage of the Bitcoin 2021 Convention, a cryptocurrency conference held at the Mananda Convention Center on Wynwood on June 4, 2021 in Miami, Florida.
Joe Raedle | Getty images
Block I reported results of the fourth quarter on Thursday that did not reach the expectations of Wall Street. The action fell more than 7% in the extended trade.
This is how the company did, compared to the consensus estimates of the LSE analysts.
- Profit per action: 71 cents, adjusted compared to 87 expected cents
- Revenue: $ 6.03 one billion vs. $ 6.29 billion expected
Income increased approximately 4.5% of $ 5.77 billion the previous year.
Block, previously known as Square, registered $ 2.31 billion in gross profits, a 14% increase of $ 2.03 billion a year ago. The company, which was an early leader in providing point -sale systems for smaller companies, faces greater competition from the tastes of Toast and FISV’S Clover unit.
The gross payment volume reached $ 61.95 billion, Overcome the estimates of analysts of $ 61.3 billion, according to Streetacount. Block published adjusted profits before interest, taxes, depreciation and amortization (EBITDA) of $ 757 million, exceeding the average estimate of analysts of $ 740 million.
– Robert Hum of CNBC contributed to this report.