US EditionBlock plunges 20% as Cash App miss triggers downgrades
- Block Inc. Shares plunged as much as 33% on May 2, 2025, hitting a 52-week low of $61.42 amid a disappointing quarterly report.
- The drop followed Block reporting $5.77 billion in revenue for the quarter ended March 31, a 3% decline year-over-year with gross profit rising 9% but below analyst forecasts.
- The company reduced its forecasts for both the upcoming quarter and the full fiscal year, attributing the revision to an uncertain macroeconomic environment and weaker-than-expected Cash App gross profit growth caused by decreased inflows and lower card spending.
- CEO Jack Dorsey acknowledged that the company’s progress during the first half of the year fell short of their expectations but expressed optimism about boosting gross profit growth in the latter part of 2025 and beyond.
- Block plans to expand Buy Now, Pay Later features within Cash App and to deepen customer engagement, aiming for stronger performance in the second half of the year despite near-term challenges.
15 Articles
15 Articles
Here’s why Block is taking a more cautious view of the year ahead
Block’s stock is falling after Cash App customers got more hesitant about spending and inflows. Article Attribution | Read More at Article Source The post Here’s why Block is taking a more cautious view of the year ahead appeared first on RocketNews.
Can Jack Dorsey Rescue Block’s Plunging Stock?
Block’s stock fell by more than 20% after its first quarter earnings call and is 25% below where it was five years ago. Now CEO Jack Dorsey is trying everything from traditional sales reps to bitcoin mining chips to revive growth.
Block Lowers Full-Year Profit Guidance on Macroeconomic Concerns
Shares of Block Inc. sank the most in more than five years after the digital-payments company led by Jack Dorsey posted first-quarter results below analysts’ estimates and lowered its full-year profit guidance as a result of a more challenging macroeconomic environment.
Block (XYZ) earnings Q1 2025
Block reported first-quarter results that missed Wall Street expectations on Thursday and issued a disappointing outlook. The stock tumbled 15% in extended trading. Here is how the company did, compared to analysts’ consensus estimates from LSEG. Earnings per share: 56 cents adjusted. That figure may not be comparable to estimates. Revenue: $5.77 billion vs. $6.2 billion expected Revenue decreased about 3% from $5.96 billion a year earlier. Gro…
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