(CNBC) Block, formerly known as Square, posted $2.09 billion in gross profit, up 22% from a year ago. Analysts tend to focus on gross profit as a more accurate measurement of the company’s core transactional businesses. The company reported net income of $472 million, or 74 cents per share, more than quadruple the net income of $98.3 million, or 16 cents per share, a year earlier.
Block shares jump on better-than-expected first-quarter results
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