Block Reports Q4 Earnings: Misses Street Estimates

OAKLAND, Calif. -- Block, Inc. (XYZ) announced fourth-quarter earnings of $1.92 billion on Thursday. The Oakland-based company reported diluted net income per share of $3.05. Excluding one-time items, earnings stood at 71 cents per share, falling short of analysts' expectations. A survey of 10 analysts by Zacks Investment Research projected earnings of 83 cents per share.

Block's revenue for the quarter reached $6.03 billion, also missing Street estimates. Nine analysts polled by Zacks had forecast revenue of $6.23 billion.

For the full year, Block reported net income of $2.9 billion or $4.56 per share. Annual revenue totaled $24.12 billion.