Twitter co-founder Jack Dorsey’s payment platform, Block (formerly known as Square), announced its fourth-quarter financial report for 2023. The report revealed a 22% increase in gross profit compared to the same period last year, reaching $2.03 billion, surpassing analysts’ expectations. This growth highlighted the strong revenue growth of Square and Cash App. As a result, SQ stock rose by 13% in after-hours trading on Thursday.
"Jack Dorsey Takes Charge of Block Again: Layoffs, Stock Buybacks, and Recognition of Over $200 Million Bitcoin Profits"