2024-05-14 17:04:20 ET
Summary
- Block remains a compelling investment despite a federal probe into its cryptocurrency transactions.
- The company reported strong financial results, with gross profits exceeding guidance and adjusted operating income handily beating guidance.
- Management raised their full-year outlook and reiterated their commitment to profitability, but investors should monitor their blockchain ambitions and use of customer deposits.
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Block: Buy The Federal Probe Fears, Long Term Story Intact