Breaking Down Block’s First Quarter 2024 Earnings Report
Earnings Report Highlights
- Earnings per share: 85 cents adjusted vs. 72 cents expected
- Revenue: $5.96 billion vs. $5.82 billion expected
Block, previously known as Square, exceeded expectations with $2.09 billion in gross profit, marking a 22% increase from the previous year. Analysts consider gross profit a key indicator of the company’s core transactional businesses.
The company’s net income soared to $472 million, or 74 cents per share, a significant rise from the previous year’s $98.3 million, or 16 cents per share.
Block raised its adjusted EBITDA forecast for the second quarter to $690 million, up from $670 million.
Cash App Performance
The Cash App business, Block’s popular mobile payment platform, reported a 25% year-over-year increase in gross profit to $1.26 billion. The platform also saw a rise in monthly active users to 24 million in March.
By the end of March, Block had 57 million monthly transacting actives for Cash App, a 6% increase fr
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Industry on 41-hour debate: union story time
– 2024-05-03 03:54:07
Actual weekly working hours in Austria are 37.6 hours – reducing working hours while maintaining prosperity is illusory
Vienna (OTS) – The union is once again trying to distort the facts in the current debate about working hours. According to Eurostat, the actual working hours worked – without taking part-time into account – will be 37.6 hours per week in Austria in 2023. This puts us well below the EU average of 38.1 hours and in the bottom third of EU countries. The development of annual working hours also shows a clear trend: in the last 10 years, the hours wo
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Industry on 41-hour debate: union story time – 2024-05-03 03:54:07
Less and less green and more and more buildings in the Netherlands | RTL News
#green #buildings #Netherlands #RTL #News
This was announced by the Central Bureau of Statistics (CBS).
Agricultural area decreased
The amount of agricultural area in the Netherlands also decreased, by 0.9 percent, or 178 square kilometers. Nature and forest areas mainly changed into built-up or agricultural areas.
In the period between 2013 and 2022, a total of 131 square kilometers of natural grassland disappeared, 36 square kilometers of forest area disappeared and 21 square kil
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Less and less green and more and more buildings in the Netherlands | RTL News
EXPORT NICHES – Companies on a mission to Canada
| Representatives of companies who will leave for the 5th edition of the MECC. |
A busy schedule is planned for the sixteen companies leaving for an Economic and Commercial Mission to Canada (MECC). It is scheduled to last fourteen days, from May 6 to 20. This fifth MECC will be an opportunity, once again, to promote the products and services of the Big Island on the Canadian market and internationally. This is also the mission that was assigned to these companies. Increase partnerships and promote Malagasy exports to Cana
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Jeff Bezos surpasses Elon Musk as the second richest person in the world
Amazon founder Jeff Bezos, who has an estimated net worth of $199.6 billion, is once again the second richest person in the world as of Thursday, surpassing Tesla CEO Elon Musk, whose estimated net worth is 197,400 million dollars. It’s also the second change of the week for the embattled billionaires.
Bezos overtook Musk after losing his position as America’s richest person on Monday, following a surge in Tesla shares that put Musk above Bezos and made him about $25 billion richer than he was alone six days earlier.
According to the report, Bezos’ estimated net worth increased by about $2.5 billion as of midday Thursday, while Musk’s net worth decreased by about $276 million. Forbes real-time billionaires list.
Do not lose: Jeff Bezos buys another mansion in the “Billionaire Bunker” for $90 million
The richest person in the world remains LVMH’s Bernard Arnault, whose wealth was estimated at $206.9 billion this morning.
Amazon shares were up 1.84% at midday. For its part, Tesla’s stock price increased by about 0.08%.
The two billionaires have been going back and forth for months for the position of the second richest person in the world and in March they changed positions at least 13 times. But, prior to March, Musk had consistently ranked first or second on the list: March 6 was the first time since August 19, 2021 that he ranked outside the top two spots on Musk’s real-ti
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Jeff Bezos surpasses Elon Musk as the second richest person in the world
SPREME Organizing Large-Scale Government Work Bid and Accelerating M&A Deals for Strong 2024 Growth
Supreme Distribution Public Company Limited (SPREME) is organizing a large-scale government work bid with a project value of more than 1,000 million baht, ready to accelerate the process of closing M&A deals, driving 2024 performance to grow strongly on Double Digit on the EC From “Phanuwat Khanthamolikul” said that the financial position and cash flow are strong. There is no interest-bearing debt, including a backlog of more than 440 million baht, gradually recognizing income until 2025, supporting incremental future growth.
Mr revealed Panuwat Khanthamolikul, CEO of Supreme Distribution Public Company Limited or SPREME, that being listed on the Stock Exchange of Thailand (SET) helps support the company. There is a stronger capital base and the company is ready to use the money received from this fundraising. Preparation for bidding on large government projects worth more than 1,000 million baht, especially for the Ministry of Education, where the company has expertise and has received regular bidding work for more than 20 years and has a track record of the chance rate of getting a job is more than 60-70%.
At the same time, we are prepared to continue investing in acquisitions to expand the company’s existing businesses (M&A) to create sustainable growth. Increase future business potential The company is in the process of negotiating 2-3 deals The businesses that the company Special attention is paid to businesses related to System Integrator, which is the main business. It also includes information and communication technology businesses which are additional megatrend businesses. Overall operating results in 2024 are expected to grow at a
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SPREME Organizing Large-Scale Government Work Bid and Accelerating M&A Deals for Strong 2024 Growth
Peloton Shakeup: CEO Out, Workforce Reduced by 15%
Peloton, the popular fitness equipment company, has announced major changes in its leadership and workforce. The company has revealed that CEO John Foley will be resigning from his position, and they will be undergoing a change in leadership. Additionally, Peloton will be laying off 15% of its workforce as part of a restructuring plan.
This news comes as Peloton faces challenges in the com
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the object called the Minister of Economy was happy to tell how the owners of the state – the people – were being cheated
– 2024-05-03 07:00:52
Former RPA MP Artak Zakaryan wrote on his Facebook page.
“They forgot about the presence of live broadcasts at the exchange for the sale of state interests. Meanwhile, the entity called the Minister of Economy was happy to tell how the owners of the state (the people) were being cheated. It was actually recorded that a significant part of the promises made to the people were not planned in the MDP (Medium Term Expenditure Plans). Almost half of what is planned is not planned
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Británica Shell earns 7,700 billion in the first quarter of 2024
London. British oil company Shell on Thursday reported a profit of $7.7 billion in the first quarter, far exceeding expectations following disruptions in the Red Sea and Russia, which affected oil refining and trading.
Analysts expected first-quarter adjusted profits of $6.46 billion, up from $9.65 billion a year earlier.
“Shell delivered another quarter of
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Británica Shell earns 7,700 billion in the first quarter of 2024
Egyptian Minister of Finance: “BRICS” will eventually become on par with “The Twenty”
Egypt – Egyptian Finance Minister Mohamed Maait considered that the BRICS group would eventually become on an equal footing with the G20, stressing his country’s interest in using the Russian and Chinese currencies in transactions.
Maait said in an interview with the “Novosti” agency that the “BRICS” group includes a number of countries with common goals and enjoys strong economies and a large population, indicating that “BRICS has a bright future, as it occupies an important position in the world, and with time it will become the same.” The level with the G20, which began (its journey) in a similar way and
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Egyptian Minister of Finance: “BRICS” will eventually become on par with “The Twenty”