Jack Dorsey Takes the Helm at Block, Implements Workforce Reduction and Stock Buyback, Recognizes Over $200 Million Bitcoin Gains

Twitter co-founder Jack Dorsey’s payment platform Block (formerly known as Square) announced its fourth-quarter financial report for 2023, revealing a 22% increase in gross profit compared to the same period last year, reaching $2.03 billion, surpassing analysts’ expectations. This demonstrates strong revenue growth for Square and Cash App. As a result, SQ stock rose 13% in after-hours trading on Thursday.