OAKLAND, Calif. (AP) — OAKLAND, Calif. (AP) — Block, Inc. (XYZ) on Thursday reported a loss of $308.7 million in its first quarter.
On a per-share basis, the Oakland, California-based company said it had a loss of 52 cents. Earnings, adjusted for one-time gains and costs, came to 85 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The mobile payments services provider posted revenue of $6.06 billion in the period, missing Street forecasts. Nine analysts surveyed by Zacks expected $6.11 billion.
Block expects full-year earnings to be $3.85 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XYZ at https://www.zacks.com/ap/XYZ
/Robinhood%20app%20on%20phone%20by%20Andrew%20Neel%20via%20Unsplash.jpg)
/The%20Shopify%20logo%20on%20a%20smartphone%20screen%20by%20IB%20Photography%20%20via%20Shutterstock.jpg)
/Apple%20logo%20-%20by%20Pexels%20via%20Pixabay.jpg)