Is Block Stock a Buy? Experts Evaluate the Future Prospects
On the path to bigger profits
This growth business could start to generate sizable earnings. Block pleased investors when it revealed its financial results for the last three months of 2023. Gross profit surged 22% on a year-over-year basis, with double-digit percentage gains for both Square and Cash App.
This business is picking up steam
In 2023, Block's operating expenses were up 18% year over year, trailing the 25% jump in gross profit. This helped result in net income of $9.8 million for the full year, a welcome surprise.
Powering the financial lives of its users
When considering what would happen if the business didn't exist, it's clear Block has an economic moat, particularly around switching costs. Merchants who use Square's offerings are unlikely to change providers.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.