Block Inc. Earns Analyst Praise: Q2 Results Showcase Cash App Growth, Strategic Innovations
Portfolio Pulse from Priya Nigam
Block Inc. (NYSE: SQ) received positive analyst reviews following its Q2 results, showcasing strong growth in Cash App and strategic innovations. Analysts from JPMorgan, Goldman Sachs, RBC Capital Markets, Benchmark, and Stephens highlighted the company's solid earnings, increased guidance, and effective go-to-market strategy.
August 02, 2024 | 6:09 pm
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Block Inc. reported strong Q2 results, with gross profits of $2.23 billion and EBITDA of $759 million. Analysts praised the company's go-to-market strategy and raised price targets. The stock saw a slight increase in response.
Block Inc.'s strong Q2 results exceeded expectations, leading to positive analyst reviews and raised price targets. The company's effective go-to-market strategy and growth in Cash App were particularly highlighted, suggesting a positive short-term impact on the stock price.
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IMPORTANCE 90
RELEVANCE 100