Block Stock Plummets 13% After Earnings Miss Estimates
Block (XYZ) shares tumbled 13% following a disappointing earnings report that fell short of Wall Street expectations. The fintech and cryptocurrency firm posted EPS of $0.54, significantly below the $0.64 consensus, while revenue of $6.11 billion missed the $6.31 billion forecast.
Analysts maintain a Moderate Buy rating on XYZ stock, with an average price target suggesting 26% upside potential. However, these ratings may be revised after the underwhelming results. Jack Dorsey's company now faces heightened scrutiny as it navigates turbulent market conditions.