SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Block, Inc. (SQ) on Thursday reported a loss of $117.6 million in its fourth quarter.
The San Francisco-based company said it had a loss of 19 cents per share. Earnings, adjusted for one-time gains and costs, were 22 cents per share.
The results did not meet Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The mobile payments services provider posted revenue of $4.65 billion in the period, beating Street forecasts. Ten analysts surveyed by Zacks expected $4.53 billion.
For the year, the company reported a loss of $553 million, or 90 cents per share. Revenue was reported as $17.53 billion.
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