Block plummets after trimming annual profit outlook
ReutersMay 1, 2025 8:51 PM
Shares of payments firm Block XYZ.N down ~16% to $49.10 in after-the-bell trading
Co trims FY25 outlook for gross profit as spending slowdown fears climb
Also reports a 60% drop in Q1 profit as co records a $93.4 million remeasurement loss on its bitcoin investments, compared to a $233.4 million remeasurement gain in the year-ago period
Posts Q1 net income of $189.9 million vs. $472 million a year earlier
XYZ fell 31% YTD, as of last close
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