Block Q4 adjusted EBITDA beats estimates, plans workforce cut
Overview
Fintech firm's Q4 adjusted EPS met analyst expectations
Q4 adjusted EBITDA beat analyst estimates
Company announced workforce reduction plan to cut over 40% of workforce
Outlook
Company said it expects to incur $450 mln to $500 mln in charges connected to workforce reduction plan
Result Drivers
GROSS PROFIT - Gross profit grew 24% to $2.87 bln, driven by a 33% surge in Cash App business
Company press release: ID:nASX22dSJt
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Adjusted EPS | Meet | $0.65 | $0.65 (29 Analysts) |
Q4 EPS |
| $0.19 |
|
Q4 Adjusted EBITDA | Beat | $930 mln | $915.22 mln (28 Analysts) |
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
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