Block's stock jumps over 25% following a 24% YoY Q4 gross profit growth

Block shares surged more than 25% in extended trading Thursday after it announced layoffs of more than 4,000 employees. The cut is half the workforce, taking Block from over 10,000 to under 6,000. In a shareholder letter, Block called it “a difficult decision” and tied the change to intelligence tools that let a smaller team […]