Block share price tanks 8% on FY24 results
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The Block Inc (ASX: XYZ) share price is in the red this morning, down nearly 8% after the company reported its FY24 earnings.
The stock, which closed yesterday’s session at $131.80 per share, is currently swapping hands at $121.85 as investors digest the news.
Let’s see what the company posted.
Block share price tumbles after results reveal mixed performance
Block reported growth from the top to the bottom line in 2024. Here are the key figures:
- Company gross profit came in at US$8.89 billion, up 18% year over year
- The Cash App business’ gross profit was US$5.24 billion of this, up 21% from last year
- Square booked a gross profit of US$3.60 billion, a gain of 15% year over year
- Despite this, the…
