OAKLAND, Calif. (AP) — OAKLAND, Calif. (AP) — Block, Inc. (XYZ) on Thursday reported second-quarter net income of $538.5 million.
The Oakland, California-based company said it had profit of 87 cents per share. Earnings, adjusted for one-time gains and costs, were 62 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The mobile payments services provider posted revenue of $6.05 billion in the period, missing Street forecasts. Nine analysts surveyed by Zacks expected $6.32 billion.
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