Block Q4 Earnings Preview: Analyst Says Bitcoin, Trump Factor Could Boost Growth
Financial technology company Block Inc (NYSE:XYZ) could highlight its growth across several sectors along with its place in the cryptocurrency ecosystem when the company reports fourth-quarter financial results Thursday after market close.
Earnings Estimates: Analysts expect Block to report fourth-quarter revenue of $6.29 billion, up from $5.77 billion in last year’s fourth quarter.
The company missed analyst revenue estimates in the last two straight quarters, but has beaten estimates in eight of the last 10 quarters.
Analysts expect the company to report fourth-quarter earnings per share of 87 cents, up from 45 cents per share in last year’s fourth quarter. The company has beaten analyst estimates for earnings per share in three straight quarters and eight of the last 10 quarters overall.
What Analysts Are Saying: The resurgence of Bitcoin (CRYPTO: BTC) could be a positive narrative for Block, RBC Capital analyst Daniel Perlin said in a new investor note.
The analyst has an Outperform rating and $110 price target ahead of fourth-quarter earnings.
“Given the resurgence in investor interest in bitcoin and …
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