Block reported this morning, and it looks mixed at first glance, which might not be good enough in the current market – the stock initially fell ~7% in late US trading:
- Net revenue was $6.03 billion below consensus of $6.28 billion.
- For the quarter, they see gross profit of $2.32 billion, below estimates of $2.38 billion.
- 4Q Adj. EBITDA $757mn, +35% YoY beat $741.6mn estimates.
- XYZ sees FY25 gross profit $10.22bn, up 15% YoY.
The company, which was an early leader in providing point-of-sale systems for smaller businesses, faces increased competition from Toast and Fiserv’s Clover unit.
MM is bullish XYZ ~$130
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