• Block stock slips on weak first-quarter results while Cash app's profit is expected to grow

    17 days ago - By Business Insider

    Jack Dorsey, co-founder & CEO of Square. Marco Bello/AFP/Getty Images
    Block, formerly Square, turned lower Friday after reporting weak first-quarter results.
    Bitcoin revenue sank 51% to $1.73 billion due to the "relative stability" in the price of the cryptocurrency.
    But the payment company gave upbeat guidance for its Cash App business.
    Block , formerly known as Square, turned lower Friday after reporting weak first-quarter earnings as bitcoin revenue declined. Shares gave up pre-market gains to trade down 4.7% at $91.10 as the stock market overall continued to see a broad sell-off. Late...
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