Tougher economic times can force companies to grow up, and Block Inc. is winning praise for heeding the call.
While the payment-technology company posted a mixed earnings report Thursday afternoon, the overwhelming highlight seemed to be management’s discussion of a new “investment framework.”While the payment-technology company posted a mixed earnings report Thursday afternoon, the overwhelming highlight seemed to be management’s discussion of a new “investment framework.”
The company’s “self-awareness and heightened focus on running a profitable business, sustainably” was “refreshing,” according to SMBC Nikko Securities America analyst Andrew Bauch. Barclays analyst Ramsey El-Assal added: “We believe that during periods of macro stress, investors have a much greater appetite to evaluate companies on more of a GAAP basis.”
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