Block shares plunge 15% as company takes 'cautious stance,' issues weak guidance for year

Block reported first-quarter results that missed Wall Street expectations on Thursday and issued a disappointing outlook. The stock tumbled 15% in extended trading. Here is how the company did, compared to analysts' consensus estimates from LSEG. Earnings per share: 56 cents, adjusted. That figure may not be comparable to estimates. 56 cents, adjusted. That figure may not be comparable to estimates. Revenue: $5.77 billion vs. $6.2 billion expected Revenue decreased about 3% from $5.96 billion a year earlier. Gross profit rose 9% to $2.29 billion from $2.09 billion a year earlier. That missed analysts' forecasts of $2.32 billion for the quarter. Block provided weaker-than-expected profit guidance for the second quarter and full year, reflecting challenging economic conditions. A growing number of tech companies are warning investors about the rest of the year following President Donald Trump's announcement of sweeping tariffs on imported goods last month. "We recognize we are oper ... Read full article.