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☆ Block shares jump on better-than-expected first-quarter results
▼ + stars: | 2024-05-02 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Earnings per share: 85 cents adjusted vs. 72 cents adjusted that was expected85 cents adjusted vs. 72 cents adjusted that was expected Revenue: $5.97 billion vs. $5.82 billion expectedBlock posted $2.09 billion in gross profit, up 22% from a year ago. Analysts tend to focus on gross profit as a more accurate measurement of the company's core transactional businesses. The Cash App business, which is the company's popular mobile payment platform, reported $1.26 billion in gross profit, a 25% year-over-year jump. Bitcoin, said bitcoin will ultimately help Block "serve more people around the world faster." He added that going forward, Block will be investing 10% of its gross profit from bitcoin products into purchases of bitcoin for investment.

Persons: Block, Jack Dorsey, Afterpay, Dorsey, Amrita Ahuja, Bitcoin, bitcoin Organizations: Twitter, CNBC

☆ Block CFO Amrita Ahuja sits down with Jim Cramer
▼ + stars: | 2024-03-22 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlock CFO Amrita Ahuja sits down with Jim CramerBlock CFO and COO Amrita Ahuja joins 'Mad Money' host Jim Cramer to talk Cash App, fractional shares, its plan to boost growth and more.

Persons: Amrita Ahuja, Jim Cramer

☆ 1 in 4 Cash App users are daily users, says Block CFO Amrita Ahuja
▼ + stars: | 2024-03-22 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email1 in 4 Cash App users are daily users, says Block CFO Amrita AhujaBlock CFO and COO Amrita Ahuja joins 'Mad Money' host Jim Cramer to talk Cash App, fractional shares, its plan to boost growth and more.

Persons: Amrita, Amrita Ahuja, Jim Cramer

☆ Block CFO says Cash App products are popular with Gen Z and younger consumers
▼ + stars: | 2024-03-22 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Block CFO Amrita Ahuja on Friday told CNBC's Jim Cramer that the company's Cash App payment services are doing well with the younger generation of consumers. The Cash App card, a free Visa debit card, is especially popular with young people, Ahuja said. She explained how Cash App is able to reach the younger generation, citing a families program that allows adults to sponsor accounts for teenagers. Cash App, which brought in a large chunk of the company's revenue last quarter, has a variety of payment offerings and also lets users buy stocks and bitcoin. Ahuja discussed integrating Afterpay services within Cash App, saying it's "an incredible opportunity to bring commerce into Cash App."

Persons: Amrita Ahuja, CNBC's Jim Cramer, Ahuja, Block, Jim Organizations: Cash

☆ Watch CNBC's full interview with Block CFO Amrita Ahuja
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Block CFO Amrita AhujaAmrita Ahuja, Block CFO, joins 'Money Movers' to discuss the drivers behind Block's positive guidance, if the guidance is due to better monetization or efficiency steps, and much more.

Persons: Amrita Ahuja Amrita Ahuja

☆ Block CFO Amrita Ahuja on Q4 earnings: Our focus now is on growth and product velocity
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlock CFO Amrita Ahuja on Q4 earnings: Our focus now is on growth and product velocityAmrita Ahuja, Block CFO, joins 'Money Movers' to discuss the drivers behind Block's positive guidance, if the guidance is due to better monetization or efficiency steps, and much more.

Persons: Amrita Ahuja, Amrita

WASHINGTON (AP) — The Biden administration is marking Monday's 15th anniversary of a landmark federal pay equity law with new action to help close gaps in pay for federal employees and employees of federal contractors. Administration officials said this step will help limit pay discrimination and ensure compensation is based on an applicant's skills, experience and expertise. A similar proposal will offer protections to those employed by federal contractors. Administration officials said the proposal would help federal contractors recruit, diversify and retain talent, improve job satisfaction and performance and reduce turnover. In 2022, the federal government had a 5.6% pay gap compared with 16% nationwide.

Persons: —, Biden, Lily Ledbetter, Joe Biden, Barack Obama, Shalanda Young, ”, Kiran Ahuja, Ahuja, we've Organizations: WASHINGTON, Democratic, Management, Regulatory, White House, White, National Partnership for Women, Families

☆ 16 VCs that are funding the future of entertainment by backing generative AI and other disruptive tech
▼ + stars: | 2024-01-12 | by ( Lucia Moses | ) www.businessinsider.com time to read: +17 min

AdvertisementAfter a period of "wild west" investing in AI, Blank believes activity will favor AI companies that respect artists' consent and compensation. It recently co-led a $1 million seed round in Conduiit, which centralizes entertainment companies' production finance operations. Endeavor Venture InvestmentsEndeavor Venture Investments is the venture arm of entertainment and sports behemoth Endeavor. SWaN & LegendThe Virginia-based VC firm has a broad consumer portfolio that includes a number of entertainment investments. With Hollywood in contraction, SWaN has largely hit pause on new entertainment investments to get its portfolio companies on a strong footing.

Persons: Michael Blank, Blank, Jon Miller, Miller, Slack, Garnet Heraman, BDMI, Urs Cete, Michael, TMRW, Tiger Woods, Rory McIlroy, Elysian Park Ventures Jay Adya, Grant Lamos, Tom Brady, Gotham Chopra, Michael Strahan, Jay Adya, Morgan, Kushaan Ahuja, Drew Glover, Glover, Alex Harris, they've, Noah Doyle, Payback India, Jed Katz, Rich Greenfield, Rich, Ilya Pozin, Jamie Seltzer, LightShed, Steve Cohen's, it's, Sri Chandrasekar, Tripp Shriner, Ishan Sinha, That's, Wondery, Ian Doody, Raine, Gordon Rubenstein, Joe Ravitch, Jeff Sine, ‐, Fred Schaufeld, SWaN, that's, Oscar, Jose, Schaufeld, Sam Wick, Alex J, Investcorp, Paul Yoo, Edgar Bronfman Jr, Daniel Leff, Waverley, Leff Organizations: Service, Creative Artists, Connect Ventures, Business, Hollywood, Veteran, TPG, Integrated Media Co, Advancit, CAA, Bertelsmann, Waverley, Octopus Ventures, Accel, Facebook, Venture, Aperture Venture, Bertelsmann Digital Media Investments, Fremantle, Connect, CAA Connect Ventures, New Enterprises Associates, TMRW Sports, Disney, Universal, Elysian Park Ventures, Elysian, Sports, Endeavor Venture, Endeavor Venture Investments, behemoth Endeavor, Dapper Labs, Fiat Ventures, Fiat Ventures Fiat Ventures, Fiat, Payback, Rent, LightShed, Rich Greenfield Influential, LightShed Ventures, Pluto, Apple, Octopus Ventures Octopus Ventures, Investments, Corp, Etsy, Re, Point72 Ventures New York Mets, Range Media Partners, Point72 Ventures, Sri, Powerhouse, Athletic, The New York Times Co, Evolution Media, Creative Artists Agency, Astro, Rave Digital Media, Accel Entertainment, Jose Andrés Media, Berliner, UTA Talent, UTA, UTA Ventures, Ventures, VR, Amazon, PFL Locations: blockchain, —, Conduiit, fintech, London, Australia, Papercup, Los Angeles, Virginia, UTA.VC

☆ Facebook staff were less willing to talk to the press than dissenters in the Middle East, a reporter says
▼ + stars: | 2024-01-09 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

An NYT reporter said talking to Middle East dissenters was easier than getting to Meta staff. AdvertisementGetting Meta staff to speak was more difficult than finding Middle East dissenters willing to do the same, a reporter told a new documentary about Mark Zuckerberg. Sheera Frenkel of The New York Times made the comments in "Zuckerberg: King of the Metaverse" that's being broadcast on Sky Documentaries in the UK this week. She described a culture of fear within staff at the Facebook and Instagram owner about the media. Sheera Frenkel reports on cybersecurity for The New York Times.

Persons: Sheera Frenkel, —, Mark Zuckerberg, Zuckerberg, Frenkel, New York Times Frenkel, Cecilia Kang, Leakers, Sonya Ahuja, Meta Organizations: Meta, Facebook, Service, The New York Times, Sky, Times, NPR, New York Times, Guardian, Big Tech, Twitter, Harvard, Business Locations: San Francisco, London

☆ Block CFO on blowout Q3 as top and bottom lines beat estimates
▼ + stars: | 2023-11-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlock CFO on blowout Q3 as top and bottom lines beat estimatesAmrita Ahuja, Block CFO, joins 'Squawk on the Street' to discuss what's allowed Block to guide as they have, how artificial intelligence is being used as a tool for Block, and why the stock has fallen so much in the last three years.

Persons: Amrita Ahuja

Tesla 's chief financial officer, Zach Kirkhorn, stepped down from his position effective Friday, the automaker announced Monday morning in a regulatory filing. Tesla's chief accounting officer Vaibhav Taneja was appointed as the new CFO and will hold both roles concurrently. Kirkhorn will stay on with Tesla through the end of the year to assist in the transition, according to a Securities and Exchange Commission filing. Kirkhorn had served as CFO since March 2019 and had worked for Tesla since 2010. Kirkhorn's departure marks the second CFO replacement at Tesla in just over four years.

Persons: Tesla, Zach Kirkhorn, Vaibhav Taneja, Kirkhorn, Deepak Ahuja, Vaibhav, Taneja Organizations: Tesla, Securities and Exchange Commission, LinkedIn, SolarCity

A Tesla logo is seen outside a showroom of the carmaker in Beijing, China May 31, 2023. The Elon Musk-led firm did not specify a reason for the departure of Kirkhorn, who has been with Tesla for 13 years. He will remain with the company through the end of the year to aid a smooth transition. Taneja, 45, joined Tesla after the automaker acquired SolarCity in 2016. Musk currently leads SpaceX, Neuralink, the Boring Company and is chief technology officer at social media platform X, formerly known as Twitter.

Persons: Thomas Peter, Zachary Kirkhorn, Taneja, Elon, Kirkhorn, Tesla, Deepak Ahuja's, Musk, Elon Musk, Gene Munster, Akash Sriram, Savio D'Souza, Arun Koyyur Organizations: REUTERS, LinkedIn, Elon, Deepwater Asset Management, Wall Street Journal, SpaceX, Neuralink, Boring Company, Twitter, Thomson Locations: Beijing, China, Austin , Texas, Bengaluru

☆ The Tesla executive who was rumored to be next in line for CEO is leaving the company
▼ + stars: | 2023-08-07 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Tesla's CFO Zachary Kirkhorn is leaving the carmaker, the company said in a regulatory filing. Zachary Kirkhorn, Tesla's chief financial officer, is leaving the electric-car company after working for the electric-car maker for about 13 years. Tesla staff told the Journal that Kirkhorn won Musk's approval by leading with "bad news" and staying in the billionaire's shadow. Kirkhorn worked as an analyst at McKinsey & Company before joining Tesla and previously interned at Microsoft, his profile says. Kirkhorn, Musk, and a spokesperson for Tesla did not respond to a request for comment ahead of publication.

Persons: Zachary Kirkhorn, Elon, Kirkhorn, Vaibhav Taneja, Tesla, Kirhorn, Elon Musk, James Murdoch, Musk, Tim Cook, Steve Jobs, Jobs, Cook, Deepak Ahuja, Afshar Organizations: Street, Elon Musk's, Tesla, EV, Securities and Exchange Commission, LinkedIn, Street Journal, Musk's, Apple, McKinsey & Company, Microsoft, SpaceX

☆ What is gender dysphoria, and is it a mental disorder?
▼ + stars: | 2023-07-19 | by ( Kristen Rogers | ) edition.cnn.com time to read: +10 min

Gender identity, an aspect of gender, is a person’s “psychological sense of their gender,” the American Psychological Association says. Symptoms of gender dysphoriaFor an adolescent or adult to be diagnosed with gender dysphoria, they must be experiencing certain criteria for gender dysphoria, along with clinically significant distress or functional impairment, according to the American Psychiatric Association. Not every person who doesn’t identify with their assigned gender experiences gender dysphoria, particularly the distress and impairment. Because gender dysphoria is included in the American Psychiatric Association’s Diagnostic and Statistical Manual of Mental Disorders, also called the DSM, it is diagnosed as a mental disorder, experts said. But the gender incongruence — having a gender identity that’s not the one assigned at birth — isn’t what makes gender dysphoria a mental disorder.

Persons: CNN — Schuyler Bailar, ” Bailar, “, ”, —, swimsuits, Schuyler Bailar, New York City, Amos Mac, Bailar, Jonah DeChants, DeChants, Sex, Jack Drescher, Amir Ahuja, that’s, Ahuja, Trevor Project’s DeChants, Ellen DeGeneres, Schuyler, What’s, Sydney Claire, He’s Organizations: CNN, New York, American Psychological Association, American Psychiatric Association, Columbia University, Los Angeles LGBT Center, The Association, Psychiatrists, Prevention, Disorders, DSM, Harvard University, National Collegiate Athletic Association Division, Sydney Locations: New York, New, New York City, Harvard, Boston

☆ Block's Amrita Ahuja on Cash App growth and profits drive
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlock's Amrita Ahuja on Cash App growth and profits driveAmrita Ahuja, Block chief financial officer, joins 'Squawk on the Street' to discuss the company's earnings beat due to a Cash App profit drive.

☆ Generative AI Tools Use Custom Data to Power More Business Functions
▼ + stars: | 2023-03-29 | by ( Angus Loten | ) www.wsj.com time to read: 1 min

Adobe’s Amit Ahuja, left, Anjul Bhambhri, center, and Ely Greenfield discuss generative AI at the Adobe Summit last week. Business software makers in financial management, design and other areas are rolling out generative artificial intelligence tools that pack troves of industry-specific data into customized applications, aiming for an edge in an already crowded market. By leveraging data gathered from specific business functions—in some cases stockpiled from decades of commercial use—software firms can offer AI tools fine-tuned for distinct applications, industry analysts said. They can also keep underlying algorithms free of extraneous data scraped online from unknown sources, which can produce unreliable results, they said.

☆ Hindenburg takes aim at Dorsey's payments firm Block, shares plunge
▼ + stars: | 2023-03-23 | by ( Manya Saini | ) www.reuters.com time to read: +5 min

Block shares fell as much as 22% before paring losses and were last down 14% at $62.61 in afternoon trading. After reviewing the full report, Block said it was "designed to deceive and confuse investors". Hindenburg said that Block "obfuscates" how many individuals are on the Cash App platform by reporting misleading "transacting active" metrics filled with fake and duplicate accounts. The app had 51 million monthly transacting actives, a 16% year-over-year increase during December 2022, Block said in fourth-quarter earnings letter. "What I am really concerned about is the Cash App, accusations of fraud, multiple accounts, opening accounts and fake names.

☆ Hindenburg shorts Jack Dorsey's payments firm Block, shares plunge
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Cash App is seen at the main hall during the Bitcoin Conference 2022 in Miami Beach, Florida, U.S. April 6, 2022. REUTERS/Marco BelloMarch 23 (Reuters) - Hindenburg Research on Thursday disclosed short positions in Block Inc (SQ.N) and alleged that the Jack Dorsey-led payments firm overstated its user numbers and understated its customer acquisition costs. Shares of Block slid 20% to $57.85 in premarket trading following the report. Hindenburg added that Block "obfuscates" how many individuals are on the Cash App platform by reporting misleading "transacting active" metrics filled with fake and duplicate accounts. Founded in 2017 by Nathan Anderson, Hindenburg is a forensic financial research firm that analyses equity, credit and derivatives.

Reps. Lauren Boebert and Marjorie Taylor Greene have both inadvertently slammed the Trump administration in recent weeks. Greene falsely blamed the Biden administration for fentanyl deaths that happened while Trump was in office. MAGA-faithful Reps. Lauren Boebert and Marjorie Taylor Greene have both inadvertently slammed the Trump administration in recent weeks while trying to take shots at President Joe Biden. Rep. Matt Gaetz, meanwhile, got schooled for unknowingly basing a critique of Biden's policies on a Communist newspaper. Gaetz tried to recover, pressing Kahl to "just tell me if the allegation is true or false."

☆ Block CFO weighs in on the company's mixed earnings report
▼ + stars: | 2023-02-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlock CFO weighs in on the company's mixed earnings reportAmrita Ahuja, Block CFO and COO, joins 'Squawk Box' to discuss the company's recent performance, the current pressure on financial technology, and more.

☆ Block sharpens focus on Cash App in 2023
▼ + stars: | 2023-02-27 | by ( ) www.businessinsider.com time to read: +2 min

The 15% year-over-year (YoY) increase is down from 45% the same period a year ago . How we got here: Three factors contributed to Block’s Q4 performance. With these expansions, gross profit outside of the US accounted for 17% of Square’s total profit in Q4, compared with just 9% in Q4 2021. Unlike other big-name fintechs, Block didn’t announce layoffs in recent months, which may point to the strength of its business model and its performance outlook. It anticipates this segment’s expenses to grow between 5% and 10% this year, driven by Cash App.

Companies Tesla Inc FollowFeb 27 (Reuters) - Tesla Inc (TSLA.O) and its Chief Executive Elon Musk were sued on Monday by shareholders who accused them of overstating the effectiveness and safety of their electric vehicles' Autopilot and Full Self-Driving technologies. They said Tesla's share price fell several times as the truth became known, including after the National Highway Traffic Safety Administration began investigating the technologies, and reports that the Securities and Exchange Commission was investigating Musk's Autopilot claims. The share price also fell 5.7% on Feb. 16 after NHTSA forced a recall of more than 362,000 Tesla vehicles equipped with Full Self-Driving beta software because they could be unsafe around intersections. Monday's lawsuit led by shareholder Thomas Lamontagne seeks unspecified damages for Tesla shareholders from Feb. 19, 2019 to Feb. 17, 2023. Tesla's share price closed Monday up $10.75, or 5.5%, at $207.63, but the stock has lost about half its value since peaking in Nov. 2021.

☆ Perfect Storm for Some Companies: Fewer Interest Deductions, Rising Rates
▼ + stars: | 2023-02-06 | by ( Mark Maurer | ) www.wsj.com time to read: +9 min

For some firms, the move shrank the amount of taxable income that can be offset by interest expenses. Higher interest rates generally lead to higher interest expenses tied to companies’ variable-rate debt, new borrowings and refinancings. The cap can hit companies’ cash flows immediately, though not necessarily their financial statements, due to timing differences in claiming the deductions. Aluminum maker and recycler Novelis plans to allocate less cash toward its venture-capital arm due to the higher interest expenses. Leveraged loans have variable rates that typically reset every one to three months, based on short-term interest rates.

☆ Elon Musk was reportedly cleared by a federal jury's verdict that his 'funding secured' tweet in 2018 didn't harm Tesla investors
▼ + stars: | 2023-02-03 | by ( Sindhu Sundar | Grace Kay | ) www.businessinsider.com time to read: +4 min

A jury found investors failed to prove Elon Musk derailed them with his tweet that he had "funding secured" to take Tesla private, per the WSJ. Tesla investors had alleged that his public statements resulted in billions of dollars in damages. Those verbal assurances in part led him to tweet that he had "funding secured" for a take-private deal for Tesla, he told jurors last month. Musk's tweet, which he posted in August 2018, read, "Am considering taking Tesla private at $420. Porritt, the Tesla investors' attorney, had framed the stakes of the case in sweeping, existential terms, arguing that it came down to a question of whether regular investors could trust the public markets.

Musk's Aug. 7, 2018 tweets sent Tesla stock soaring and after they fell back down, shareholders sued, alleging they lost money. But board members James Murdoch and Ira Ehrenpreis each said the tweets did not need to be vetted by the company before Musk sent them because he had done so in his individual capacity. The stock price soared after the tweet and then fell as it became clear the buyout would not happen. Tesla shareholders say they lost billions of dollars on their investments in stocks and other securities of the company. The buyout deal never came together because investors, particularly retail shareholders, expressed their interest in keeping the company public, according to testimony by Musk.

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