Block Inc. expected to announced quarterly sales
March 10th, 2022 Block Inc., formerly Square Inc., is expected to announce earnings of $4.24 billion for this quarter alone. Analysts estimated the company will report earnings upwards of $18.9 billion for the year ending December 2022. This comes as Itau Unibanco Holdings S.A. and Selective Wealth Management Inc. purchased $34,000 and $36,000 worth of shares respectively in the company. With these purchases, an estimated 66.3% of the company's stock is now owned by institutional investors.
Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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