5 Earnings Reports Catching Investors’ Attention

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1. Block, Inc. (NYSE:SQ)

Number of Hedge Fund Holders: 96

Shares of Block, Inc. (NYSE:SQ) plunged to a nearly one-year low in the pre-market trading session on Friday, May 6, 2022, after missing profit and sales expectations for the first quarter.

Block, Inc. (NYSE:SQ) reported adjusted earnings of 18 cents per share, well below 41 cents per share in the year-ago period. Revenue for the quarter also dropped 22 percent on a year-over-year basis to $3.96 billion. The results missed the consensus of 21 cents per share for earnings and $4.14 billion for revenue.

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If we look at the sales performance of flagship segments of Block, Inc. (NYSE:SQ), transaction-based revenue jumped 28 percent to $1.23 billion, while subscription and services-based revenue rallied 72 percent to $960 million in the quarter. On the downside, Bitcoin revenue plummeted 50.1 percent to $1.73 billion, negatively impacting the total quarterly sales.

You can also take a peek at 10 Best Airline Stocks To Buy Today and 10 Favorite Stocks of Dan Loeb’s Third Point.

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