Since the beginning of the year, the benchmark stock indexes have exhibited wild price swings due to concerns over high inflation, Ukraine-Russia tensions, and forthcoming interest rate increases. But despite the poor market sentiment, Block, Inc. (SQ), Farfetch Limited (FTCH), The Beauty Health Company (SKIN), and Overstock.com, Inc. (OSTK) soared in price last week as the companies impressed investors with better-than-expected earnings.
SQ’s EPS for the fourth quarter came in at $0.27, beating the consensus estimate by 20.1%. And although SQ expects its gross payment volume to be lower than expected in the current quarter, its outlook for its fiscal year 2022 is positive after reporting strong fourth quarter and fiscal 2021 numbers and a decline in its net loss for the fourth quarter. Also, its loss was narrower than Wall Street expectations. The company also reported that it expected full-year gross merchandise volume growth of between 28% - 32% for its digital platform and between 20% - 25% for its brand platform.
