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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Block Inc | NYSE:SQ | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 71.51 | 140 | 09:07:37 |
From May 2023 to May 2024
By Stuart Condie
SYDNEY--Block's Australia-listed securities slumped 11% early Friday after the payment technology provider's gross profit growth slowed at the start of 3Q.
The stock was the S&P/ASX 200's worst performer about 90 minutes after the session opened.
Block late Thursday reported stronger-than-expected 2Q earnings and raised its full-year outlook, but indicated that gross profit growth had likely slowed to an annual 21% in July.
Block's 2Q gross profit rose 27% on-year to US$1.87 billion, compared with the average analyst forecast of US$1.81 billion, according to data compiled by FactSet.
Its net loss narrowed to US$125.8 million from US$209.3 million a year earlier.
The Australia-listed shares, a legacy of Block's 2021 acquisition of local buy-now-pay-later provider Afterpay, were recently at 103.84 Australian dollars (US$68.03) and on course for their lowest close in almost four weeks.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
August 03, 2023 22:13 ET (02:13 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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