Block Shares Climb After Q1 Report — Here’s Why

Block Inc. (NYSE:XYZ) posted its first-quarter results after Thursday’s closing bell, blowing past analysts’ earnings expectations. Here’s a look at the details inside the report. 

• XYZ stock is moving. Watch the price action here.

Block Q1 Details       

Block reported quarterly earnings of 85 cents per share, which beat the analyst consensus estimate of 68 cents by 25%, according to Benzinga Pro data. 

Quarterly revenue came in at $6.057 billion, which just missed the Street estimate of $6.061 billion.

Block reported the following first-quarter highlights:

• Overall Block gross profit growth accelerated to 27% year over year in the first quarter, with 38% year-over-year growth in Cash App and 9% year-over-year growth in Square.
• Commerce Enablement year-over-year …

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