Block Inc reports results for the quarter ended June 30 - Earnings Summary

• Block Inc XYZ reported quarterly adjusted earnings of 62 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 93 cents. The mean expectation of thirty one analysts for the quarter was for earnings of 69 cents per share. Wall Street expected results to range from 43 cents to $1.20 per share.

• Revenue fell 1.6% to $6.05 billion from a year ago; analysts expected $6.31 billion.

• Block Inc's reported EPS for the quarter was 87 cents​.

• The company reported quarterly net income of $538.46 million.

• Block Inc shares had risen by 12.1% this quarter and lost 10.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 0.8% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 31 "strong buy" or "buy," 11 "hold" and 3 "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 $80.00, about 3.9% above its last closing price of $76.85

This summary was machine generated from LSEG data August 8 at 03:21 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)