BLOCK：4Q24业绩喜忧参半 25下半年业绩有望改善

中金公司2025-03-04

Block 4Q24 毛利润低于市场预期，但EBITDA 高于市场预期Block 公布4Q24 业绩：毛利润同比+14%至23.11 亿美元，略高于我们预期，但低于市场一致预期；调整后EBITDA 同比+35%至7.57 亿美元，高于我们及市场一致预期，主因4Q23 低基数及一次性税收利好。发展趋势Cash App 增速有所放缓，支付流水同比下行，但月活和货币化率同比改善。营收角度，4Q24 ...

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