Fillings and Toppings Market worth $15.9 billion by 2027 – Exclusive Report by MarketsandMarkets™

Reuters

Block shares slip after crypto winter dampens quarterly results

Block on Thursday reported a loss of 36 cents per share in the second quarter, compared with a profit of 40 cents last year, and said it had slowed hiring and would cut its 2022 investment target by $250 million. However, the brokerage maintained its “overweight” rating and $107 price target for the stock, citing underlying earnings potential from its buy now, pay-later business, which earned $150 million in gross profit in the quarter. Investor enthusiasm over bitcoin and other digital currencies has ebbed this year, as red-hot inflation and the Federal Reserve’s tightening of monetary policy have led to a selloff in risky assets.