(Finance) – Definitely positive session for Blockwhich is trading up by 17.23%.
The financial services company founded by Jack Dorsey has surprisingly announced a return to profit. The fourth quarter it closed with net profits of 178 million dollars, equal to 28 cents per share, compared to losses of 114 million (18 cents) recorded a year earlier. Analysts’ estimates were for a red of 1 cent.
On an adjusted basis, EPS stood at 45 cents, but in this case below the 58 cents estimated by analysts.
THE revenues they grew by 24% annually to $5.77 billion, compared to the consensus of $5.70 billion.
On a weekly basis, the stock’s trend is more solid than that ofS&P-500. At the moment, therefore, the appeal of investors is aimed more decisively at Block compared to the reference index.
The short-term technical status of Block highlights an expansion of the positive performance of the curve with the first area of resistance identified at USD 82.48. Risk of possible correction up to the 77.66 target. Expectations are for an increase in the bullish trendline towards the 87.3 resistance area.