Block Inc.’s stock plummeted after the company reported weaker-than-expected earnings and cut its full-year guidance, citing macroeconomic concerns. The payment firm’s Cash App performance missed forecasts, leading to multiple downgrades by analysts. Block’s quarterly revenue and profit also dropped, prompting the company to lower its outlook for 2025. Investors reacted negatively, with shares falling by 20%. This marks Block as one of the first major casualties in the payments sector amid broader economic challenges.
— new from Barron’s