Block Shares Gain 4% on Better Than Expected Q4 Results
<p><a href='https://financialmodelingprep.com/financial-summary/SQ'>Block (NYSE:SQ)</a> shares rose more than 4% on Friday after the company reported its Q4 results, with revenue of $4.65 billion (up 14% year-over-year) coming in better than the Street estimate of $4.62 billion, boosted by subscription & services revenues, which grew 70% year-over-year. EPS was $0.22, compared to the Street estimate of $0.30. </p>
<p>The company provided better-than-expected profit guidance for the fiscal 2023-year. Adjusted EBITDA is expected to be $1.3 billion, compared to the Street estimate of $1.28 billion.</p>
<p>Additionally, management outlined its long-term investment framework, where both SQ overall and each of its Square/Cash App ecosystems will target gross profit retention (NRR) of more than 100% long-term. The company is also targeting a Rule of 40 where gross profit growth plus adjusted operating margin should exceed 40% over the long term.</p>

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