Financial services company Block, Inc. (NYSE: SQ), previously known as Square, has reported a decrease in fourth-quarter adjusted earnings, despite strong top-line growth.
Fourth-quarter earnings, adjusted for one-off items, decreased to $0.22 per share from $0.27 per share in the corresponding quarter of the previous year. On an unadjusted basis, the company reported a net loss of $114 million or $0.19 per share for the most recent quarter, compared to a loss of $77 million in the prior-year period.
Check this space to read management/analysts’ comments on Block’s Q4 results
Total revenues increased 14% year-over-year to $4.65 billion. At $53.2 billion, gross payments volume was up 15% compared to the fourth quarter of 2021.
