In its previous earnings report, the payments firm said it was "meaningfully slowing" the pace of hiring this year to control costs. "We have a pretty compelling roadmap ahead of us in every one of our ecosystems."īlock’s revenue growth has moderated over the past few quarters as inflation prompted consumers to defer big-ticket purchases. "We will not be distracted from our strategy and from our prioritizations," he said. In a call with analysts, Block CEO Jack Dorsey said the firm stands by its response to the report. Short sellers like Hindenburg typically sell borrowed securities and aim to buy these back at a lower price. Block has denied the allegations and has said it would explore legal action against the short seller. Reuters could not verify the claims raised in the report. The allegations sent shares in the company down 22%. Hindenburg, whose report this year triggered a rout of more than $100 billion in shares of India's Adani Group companies, had accused Block of overstating its user numbers by allowing fake or duplicate accounts to exist on its Cash App platform. The San Francisco-based fintech, which offers merchant payment services and an app that facilitates peer-to-peer payments and lets people trade cryptocurrency, said gross profit in the first-quarter rose 32% to $1.71 billion. The company posted total net revenue of $4.99 billion in the quarter ended March 31, up 26% from the prior year and beating analysts' estimate of $4.59 billion, according to Refinitiv data. Prior to market close, its stock was down more than 10% from the beginning of this year. Shares of Block, formerly called Square, were up more than 1% in extended trading on Thursday, paring gains after rising more than 4%. Available on both mobile and PC, the TabTrader cryptocurrency. Crypto Price Alerts for PC and Mac Screenshots Crypto Price Alerts Features and Description Key Features Latest Version: 1. Embrace the world of crypto with a single powerful and intuitive tool. It tracks and alerts you of the latest realtime price actions of cryptocurrencies. Ticker Is A Terminal Stock Watcher And Position Tracker (With Cryptocurrency Support) Logix Updated on Maconsole, cryptocurrency, stocks Ticker is a terminal stock ticker with live updates and position tracking, available for Linux, macOS and Microsoft Windows. After installation, the tracker is located above the taskbar and displays the prices of the cryptocurrencies you set. Crypto Price Alerts is a free and easy to use lightweight app that runs in the taskbar. short-seller Hindenburg Research's disclosure in March of short positions in the firm. BitTab is one of the most popular cryptocurrency widget for automatically tracking the rate of cryptocurrencies on the Windows desktop. May 4 (Reuters) - Block Inc (SQ.N) posted a rise in first-quarter revenue on Thursday as its popular payments platform Cash App continued to drive growth, a metric investors will watch closely following U.S.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |