Block’s Q1 Profits Top Wall Street Targets, Boosted by Cash App

Block’s first-quarter operating earnings exceede

Block’s first-quarter operating earnings exceeded Wall Street’s expectations, despite a fall in overall revenue caused by a weaker bitcoin. The firm, led by Twitter co-founder Jack Dorsey, posted operating earnings, also known as adjusted EBITDA, of $195 million, beating Wall Street’s average expectation of $136 million. However, the company still fell short of headline revenue …

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