"Block's Surprise Profit Sends Shares Soaring"

Block, formerly known as Square, saw its stock surge up to 14% in after-hours trading following the announcement of better-than-expected fourth-quarter earnings, with $5.77 billion in revenue and $2.03 billion in gross profit. The company, led by CEO Jack Dorsey, reported strong growth in its Square and Cash App businesses, with 56 million monthly transacting actives for Cash App in December and a 25% year-over-year rise in Cash App gross profit. Block also raised its adjusted EBITDA forecast and emphasized its focus on building a large network with an engaged customer base.