Block shares were on track for their second-worst day Friday, plunging more than 20% as investors digested a brutal quarterly report and a wave of analyst downgrades centered on one issue: Cash App.The first-quarter earnings miss rattled Wall Street, prompting multiple firms — including Wells Fargo, Seaport, BMO, and...
In the increasingly crowded market for peer-to-peer payments, Venmo is showing momentum while Cash App has hit a rough patch. The parents of both businesses reported quarterly results this week. PayPal, which owns Venmo, reported an earnings beat and kept its forecast for the year. Block, meanwhile, plummeted in...
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...
Justin Sullivan | Getty ImagesVenmo, long a centerpiece of PayPal's growth story but often criticized for its lack of monetization, is becoming a bigger contributor to the business.PayPal said Tuesday in its first-quarter earnings release that revenue at Venmo increased 20% year-over-year in the first quarter, though the company...
FILE PHOTO: A smartphone with the PayPal logo is placed on a laptop in this illustration taken on July 14, 2021. Dado Ruvic | ReutersPayPal, Block and Affirm are all closely tied to the health of the consumer, which has investors on edge headed into their earnings reports.Markets broadly have...
Marco Bello | AFP | Getty ImagesBlock shares plunged 16% on Friday and headed for their steepest drop since 2020 after the company reported fourth-quarter earnings that missed estimates and issued guidance for 2025 that failed to reassure investors.In its financial report late Thursday, Block reported earnings of 71...
Jack Dorsey, CEO of Square, speaks on stage at the Bitcoin 2021 Convention, a cryptocurrency conference held at the Mana Convention Center in Wynwood in Miami, Florida, on June 4, 2021.Joe Raedle | Getty ImagesBlock reported fourth-quarter results on Thursday that fell short of Wall Street expectations. The stock...
Lori Moffett | Bloomberg | Getty ImagesShares of Fidelity National Information Services plunged the most since 2023 on Tuesday after the company reported quarterly earnings that fell short of Wall Street estimates and issued a disappointing forecast.The stock dropped 12% as of afternoon trading, heading for its biggest drop...
Affirm shares jumped more than 15% in extended trading on Thursday after the provider of buy now, pay later loans reported better-than-expected fiscal second-quarter results.Here's how the company did, compared to analysts' consensus estimates from LSEG:Earnings per share: 23 cents vs. an expected loss of 15 centsRevenue: $866 million vs. $807...
Fiserv CEO Frank J. Bisignano at the New York Stock Exchange on June 7, 2023.Source: NYSEShares of Fiserv jumped more than 7% on Wednesday to a record after the payments company reported better-than-expected fourth-quarter earnings and issued guidance that also topped estimates.The stock closed at $229.53, exceeding its previous...