Block Q4 adjusted EBITDA beats estimates, plans workforce cut

Reuters
02/27
<a href="https://laohu8.com/S/XYZ">Block</a> Q4 adjusted EBITDA beats estimates, plans workforce cut

Overview

  • Fintech firm's Q4 adjusted EPS met analyst expectations

  • Q4 adjusted EBITDA beat analyst estimates

  • Company announced workforce reduction plan to cut over 40% of workforce

Outlook

  • Company said it expects to incur $450 mln to $500 mln in charges connected to workforce reduction plan

Result Drivers

  • GROSS PROFIT - Gross profit grew 24% to $2.87 bln, driven by a 33% surge in Cash App business

Company press release: ID:nASX22dSJt

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Adjusted EPS

Meet

$0.65

$0.65 (29 Analysts)

Q4 EPS

$0.19

Q4 Adjusted EBITDA

Beat

$930 mln

$915.22 mln (28 Analysts)

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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