Block Inc reports results for the quarter ended March 31 - Earnings Summary

• Block Inc XYZ.N reported quarterly adjusted earnings of 56 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of 85 cents. The mean expectation of thirty two analysts for the quarter was for earnings of 87 cents per share. Wall Street expected results to range from 48 cents to $1.27 per share.

• Revenue fell 3.1% to $5.77 billion from a year ago; analysts expected $6.20 billion.

• Block Inc's reported EPS for the quarter was 30 cents​.

• The company reported quarterly net income of $189.87 million.

• Block Inc shares had risen by 7.6% this quarter and lost 31.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 13% in the last three months.​

• In the last 30 days, five analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 37 "strong buy" or "buy," 8 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the business support services peer group is also "buy"

• Wall Street's median 12-month price target for Block Inc is $82.50

This summary was machine generated from LSEG data May 2 at 03:12 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)