Block shares drop more than 8% on quarterly miss

Financial Performance - Block's adjusted EPS missed estimates, coming in at $0.54 versus the expected $0.67 [1] - Revenue also missed estimates, reported as $61.1 billion versus the expected $63.1 billion [1] - Adjusted EBITDA was light at $833 million, compared to the street estimate of $840 million [2] Company Performance & Guidance - Block has reported a double miss for the fourth consecutive quarter [1] - Block has missed on revenue for the sixth straight quarter [1] - Gross profit is a bright spot, with back-to-back quarters of double-digit growth [2] - The company is now guiding to $102 billion in gross profit [2]