Block Shares Surge Nearly 8% After Hours Despite $309 Million Net Loss
BeInCrypto
Block shares rose nearly 8% in after-hours trading after the company beat first-quarter earnings estimates despite reporting a net loss.Summary
Block Inc. shares climbed 7.93% in after-hours trading following a first-quarter report that outperformed analyst expectations. The company reported adjusted diluted earnings of $0.85 per share, exceeding the anticipated $0.68, and achieved a 27% year-over-year increase in gross profit. Although the firm recorded a $309 million net loss, largely attributed to Bitcoin investment remeasurements, strong performance in its Cash App and Square segments led the company to raise its full-year 2026 guidance.
(Source：BeInCrypto)