Why Bitcoin-Related Stock Block (SQ) Is Soaring Higher – Block (NYSE:SQ)

Block Inc SQ shares are trading higher by 14.43% to $61.63 Friday morning after the company reported better-than-expected third-quarter EPS and sales results.

What Happened?

Block said third-quarter revenue increased 17% year-over-year to $4.52 billion, which beat average analyst estimates of $4.5 billion, according to Benzinga Pro. Excluding Bitcoin BTC/USD revenue, total net revenue in the third quarter was $2.75 billion, up 36% year-over-year.

The payment services company reported quarterly adjusted earnings of 42 cents per share, which beat average estimates of 24 cents per share…Read More

According to data from Benzinga Pro, Block has a 52-week high of $255.95 and a 52-week low of $51.34.

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