What's Going On With Block Shares Friday
Portfolio Pulse from Dylan Berman
Block, Inc. (NYSE:SQ) reported its 2024 fiscal year second quarter earnings, missing analyst estimates for both EPS and revenue. The company also announced a $3 billion share repurchase program. Despite initial gains, the stock reversed and is trading lower.
August 02, 2024 | 4:14 pm
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Block, Inc. reported Q2 earnings with adjusted EPS of 31 cents and revenue of $6.11 billion, both missing analyst estimates. The company announced a $3 billion share repurchase program. Despite initial gains, the stock is now trading lower.
Block's Q2 earnings missed analyst estimates for both EPS and revenue, which is typically negative for stock prices. The announcement of a $3 billion share repurchase program is a positive move, but the immediate market reaction has been negative, with the stock trading lower.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100