Block Q4 revenue: What lets it stand out in fintech sector

02/24/2024 00:38
Block Q4 revenue: What lets it stand out in fintech sector

Shares of Block (SQ) are jumping after the fintech company posted its fourth-quarter earnings, edging past Wall Street's revenue expectations by posting $5.77 billion for the quarter. The company also posted $2.03 billion in gross profit — a gain of 22% year-over-year — and its full-year EBITDA guidance. Moshe Katri, Wedbush Securities Managing Director, Equity Research — IT Services & Payments, joins Yahoo Finance to discuss Block's quarterly earnings and how the company is positioned to stand out against its competition. Katri elaborates on what gives Block the edge among its fintech competitors:"It's beyond just a hardware piece. One, the company historically decided that it wanted to move from SMB [Small and Mid-sized Business] to the mid-market — you need a different sales strategy, you need a different product mix, and all this is being addressed as we speak. On top of that, the company historically built its own products, and now, as we understand, management is kind of reconsidering that and deciding maybe to partner with ISVs — independent software vendors — to be able to appeal more in terms of the products that they're offering in their ecosystem." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino

Shares of Block (SQ) are jumping after the fintech company posted its fourth-quarter earnings, edging past Wall Street's revenue expectations by posting $5.77 billion for the quarter. The company also posted $2.03 billion in gross profit — a gain of 22% year-over-year — and its full-year EBITDA guidance.

Moshe Katri, Wedbush Securities Managing Director, Equity Research — IT Services & Payments, joins Yahoo Finance to discuss Block's quarterly earnings and how the company is positioned to stand out against its competition.

Katri elaborates on what gives Block the edge among its fintech competitors:
"It's beyond just a hardware piece. One, the company historically decided that it wanted to move from SMB [Small and Mid-sized Business] to the mid-market — you need a different sales strategy, you need a different product mix, and all this is being addressed as we speak. On top of that, the company historically built its own products, and now, as we understand, management is kind of reconsidering that and deciding maybe to partner with ISVs — independent software vendors — to be able to appeal more in terms of the products that they're offering in their ecosystem."

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Nicholas Jacobino

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