From Yahoo Finance: 2025-05-03 06:35:00

Wall Street ended the week strong, with major indices posting gains after positive non-farm payroll data. Nasdaq led with a 1.51% increase, S&P 500 up 1.47%, Dow Jones up 1.39%. Despite overall optimism, 10 companies saw declines due to poor earnings. Block, Inc. (XYZ) dropped 20.43% on Friday due to reduced profit forecast.

Block, Inc. (XYZ) announced a lowered profit forecast, resulting in a 20.43% drop on Friday. The company now projects 12-15% profit growth for 2025 and second quarter gross profit of $2.45 billion, below expectations. Concerns about consumer spending and global market uncertainties were cited as reasons for the trimmed forecast.

Block, Inc. (XYZ) reported a 60% drop in net income in Q1, with a $93.4 million loss on Bitcoin holdings. The company cited global market uncertainties due to President Trump’s tariff policies as reasons for the reduced profit forecast. XYZ ranks as the top worst performer on Friday due to poor earnings.

Read more: Why Block, Inc. (XYZ) Went Down On Friday