Block’s stock surges 20% as Wall Street rewards massive job cuts at the parent company of Square and the Cash App.

Block, the parent company of payment apps Square, Cash App and Afterpay, is laying off more than 40 percent of its staff, pointing to recent advancements in artificial intelligence that are “enabling a new way of working.

Block is the latest business to announce layoffs, with the operator of payment platforms Square and Cash App opting to cut jobs in favor of using more AI tools. The financial tech company, helmed by Twitter founder Jack Dorsey,

San Francisco — There’s a new Silicon Valley corporate name change on the block. A month after Facebook renamed itself Meta, Square Inc., the payments company headed by former Twitter CEO Jack Dorsey, is changing its name to Block Inc. The San ...

H&R Block said consumers were likely to be confused by the similar name, noting that it has referred to itself as "Block" in some ads since 2015. Getty Images Tax preparation company H&R Block on Thursday sued payment company Block, previously called ...

Analysts estimate adjusted EPS of $0.22 vs. $0.32 in Q4 FY 2020. Gross payment volume is expected to rise at a robust pace YOY. Revenue growth is expected to rise, but at the second-slowest pace in at least 15 quarters. Block Inc. (SQ), which changed its ...

Square's POS system growth may start to normalize due to increasing competition, but they have a significant runway for growth with their Cash App. Square has been shifting its focus towards mid-market sellers, which can generate higher margins and utilize ...

“Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy," said Jack Dorsey. Digital payments company Square announced that it ...

Gross payment volume (GPV) came in above analysts' predictions. GPV measures the total dollar amount of card payments processed by sellers on the company's payment ecosystem. Block's transaction-based revenue rose 41% year over year to $1.3 billion ...

Square has the highest gross margin across Block’s reported segments. The fact that outbound sales will play a greater role in Square’s seller acquisition efforts is an implicit admission that growth in inbound queries is subduing, due to intensifying ...

The Oakland-based payments company, which operates the Square point-of-sale ecosystem for merchants and the Cash App consumer platform, has seen its shares trade near the lower end of their 52-week range of $44.