Block shares tumbled 11% in extended trading on Thursday after the company reported third-quarter revenue that trailed Wall Street expectations.
Earnings per share: 88 cents adjusted vs. 87 cents expected88 cents adjusted vs. 87 cents expected Revenue: $5.98 billion vs. $6.24 billion expectedBlock, formerly known as Square, posted $2.25 billion in gross profit, up 19% from a year ago.
Analysts tend to focus on gross profit as a more accurate measurement of the company's core transactional businesses.
The company reported net income of $283.7 million, or 45 cents per share, after losing $88.7 million, or 15 cents a share, a year earlier.
The company said gross profit for the fourth quarter will increase 14% to $2.31 billion.
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