Block 2Q Loss Narrows, Revenue Tops Estimates
04 8월 2023 - 6:10AM
Dow Jones News
By Denny Jacob
Financial services company Block reported a narrower loss and
better-than-expected revenue in the latest quarter.
The San Francisco-based company narrowed its loss to $125.8
million, or 20 cents a share, for the second quarter ended June 30,
from $209.3 million, or 36 cents a share, a year earlier. Adjusted
earnings were 39 cents a share, above analysts' estimates of 36
cents.
Revenue climbed to $5.53 billion from $4.4 billion. Analysts
polled by FactSet expected $5.1 billion.
Transaction-based revenue rose 11% year over year to $1.64
billion in the quarter, while subscription and services-based
revenue soared 33% from a year earlier to $1.46 billion.
Block said it continues its momentum with its Square Banking
products. "While early, both Square Credit Card and our new loan
options have seen strong usage, particularly among larger sellers
who value the flexibility and ability to reinvest into their
business," the company said in a letter to shareholders.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
August 03, 2023 16:55 ET (20:55 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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