Stock Track | Block, Inc. Plunges 6.45% Pre-Market as Q4 Profit Misses Estimates Due to Lackluster Holiday Spending and Bitcoin Gains

Stock Track

02/21

Block, Inc. (XYZ) shares plummeted 6.45% in pre-market trading on Friday, following the payment firm's fourth-quarter profit falling short of expectations due to weaker-than-anticipated holiday spending and gains from bitcoin trading.

The company reported a profit of $0.71 per share, excluding one-time costs, missing analysts' estimates of $0.87 per share. Its transaction-based revenue of $1.68 billion and bitcoin revenue of $2.43 billion also lagged behind expectations, as a robust labor market and steady wage growth failed to translate into robust consumer spending during the holiday season.

Uncertainty surrounding trade policy under a new administration and the Federal Reserve's rate cuts also weighed on sentiment, impacting Block's performance. While CEO Jack Dorsey emphasized the company's efforts to streamline operations and invest in artificial intelligence tools, investors remained cautious.

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Plunges 6.45% Pre-Market as Q4 Profit Misses Estimates Due to Lackluster Holiday Spending and Bitcoin Gains\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2025-02-21 17:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Block, Inc. (XYZ) shares plummeted 6.45% in pre-market trading on Friday, following the payment firm's fourth-quarter profit falling short of expectations due to weaker-than-anticipated holiday spending and gains from bitcoin trading.</p>\n\n<p>The company reported a profit of $0.71 per share, excluding one-time costs, missing analysts' estimates of $0.87 per share. 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While CEO Jack Dorsey emphasized the company's efforts to streamline operations and invest in artificial intelligence tools, investors remained cautious.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XYZ","symbol_name":"Block, Inc.","start_time":0,"source_url":"","article_id":"1101002914","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1101002914","pubTimestamp":1740128568,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Block, Inc.  shares plummeted 6.45% in pre-market trading on Friday, following the payment firm's fourth-quarter profit falling short of expectations due to weaker-than-anticipated holiday spending and gains from bitcoin trading.The company reported a profit of $0.71 per share, excluding one-time costs, missing analysts' estimates of $0.87 per share. 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