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Financial services company Block, Inc. (NYSE: SQ), formerly known as Square, has reported a fourth-quarter earnings decline, despite strong top-line growth.
Fourth-quarter earnings, adjusted for one-time items, fell to $0.22 per share from $0.27 per share in the corresponding quarter a year earlier. 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 year-ago period.
Check out this space to read management/analyst comments on Q4 Block results
Total revenue increased 14% year over year to $4.65 billion. At $53.2 billion, gross payment volume was up 15% compared to the fourth quarter of 2021.
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