Block (SQ) Missed on Earnings, So Why Is the Stock Up?

In this video, I will go over Block's (XYZ 0.98%) Q1 earnings report and touch on a couple of points it raised during the call. The company reported a miss on earnings per share and revenue, but the stock is still up. 

• The company reported total net revenue of $3.96 billion in the first quarter of 2022, down 22% year over year (YOY), missing estimates by $180 million.
• Excluding Bitcoin, total net revenue in the first quarter was $2.23 billion, up 44% YOY.
• Bitcoin revenue was $1.73 billion, down 51% YOY, and Bitcoin gross profit was only $43 million. 
• International expansion remains the company's top priority. 

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*Stock prices used were the closing prices of May 5, 2022. The video was published on May 6, 2022.