Block Declines After Third-Quarter Revenue Misses Estimates

Block said it is dedicating more resources to its Bitcoin mining initiative and self-custody wallet for Bitcoin. — Block said it is dedicating more resources to its Bitcoin mining initiative and self-custody wallet for Bitcoin.
Photographer: Leon Neal/Getty Images

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By Emily Mason and Paige Smith

November 7, 2024 at 9:34 PM UTC

Updated on

November 7, 2024 at 10:23 PM UTC

This article is for subscribers only.

Shares of Block Inc. fell in late trading after the digital payments company posted third-quarter revenue that was below analysts’ forecasts.

The Cash App provider also said that it is winding down TBD, a decentralized finance business, as it shuffles resources toward other cryptocurrency-focused ventures.