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Benzinga
Benzinga
Business
Wayne Duggan

3 Block Analysts React To Q1 Earnings Miss, Cash App Growth, Bitcoin Weakness

Block Inc (NYSE:SQ) reported a first-quarter earnings miss driven by a sharp downturn in Bitcoin (CRYPTO: BTC) revenue.

On Thursday, Block reported first-quarter adjusted EPS of 18 cents on $4 billion in revenue. Both numbers missed consensus analyst estimates of 20 cents and $4.1 billion, respectively. Revenue was down 21.5% from a year ago.

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