Block Inc - XYZ STOCK NEWS

Block (NYSE: XYZ) has scheduled the release of its first quarter 2025 financial results on Thursday, May 1, 2025, after market close. The company will host a conference call and earnings webcast at 2:00 p.m. Pacific Time/5:00 p.m. Eastern Time on the same day to discuss the quarterly results. Interested participants can register for the conference call and access the live audio webcast through Block's Investor Relations website at investors.block.xyz, where a replay will also be made available following the call.

Cash App Afterpay has released a new report revealing significant shifts in payment preferences among younger consumers. The study shows that 63% of Gen Z are moving away from credit cards, with 51% saying credit cards give them the 'ick'.

Key findings indicate that 82% of Americans believe credit cards can be financially dangerous, and 68% of Gen Z report stress and anxiety from credit card bills. The research highlights that 40% of credit card users are frequently surprised by interest fees, rising to 53% for Gen Z.

The report demonstrates a clear trend toward alternative payment methods, with 70% of Americans preferring debit cards. Notably, 52% of Gen Z believe Buy Now, Pay Later (BNPL) services could help them better manage finances compared to traditional credit. The study also reveals that 48% of Americans are open to using BNPL in the future, including 55% of Gen Z.

Cash App, a Block, Inc. (NYSE: XYZ) subsidiary, has launched its largest marketing campaign called 'Cash In' to promote its comprehensive banking features. The multi-channel national campaign, directed by Emmy-nominated Ramy Youssef, includes a four-part ad series highlighting the platform's benefits for smarter money management.

The campaign began with extensive out-of-home advertising across major U.S. markets in February. Two initial ads, 'Tips' and 'Wingin' It,' showcase everyday scenarios of using Cash App's features, including automatic paycheck distribution into Stocks, Bitcoin, and Savings, and free overdraft coverage.

Key statistics reveal Cash App Card has reached 25 million monthly active users as of December 2024, with 21% penetration among U.S. 18-21 year olds. The platform offers benefits for customers who direct deposit $300+ monthly, including up to $200 in free overdraft coverage, 4% interest on savings, and ATM fee reimbursement. The campaign will continue throughout 2025 across various media channels.

Block Inc. (NYSE: XYZ) is integrating Afterpay's pay-over-time services into Cash App, creating a unified brand called Cash App Afterpay. Starting this week, eligible Cash App customers can access Afterpay's Pay-in-4 product at partner merchant sites, with Pay Monthly features coming in the following months.

The integration connects Afterpay's payment solutions with Cash App's 57 million monthly active users, significantly expanding the merchant network's potential customer base. When shopping online, customers can select $Afterpay at checkout to split their purchases into payments. Cash App users can manage their pay-over-time transactions directly within the app through the applet feature.

Cash App ranks among the top five most authentic brands for Gen Z, while Afterpay holds the position of most trusted BNPL (Buy Now, Pay Later) provider in the market.

Block, Inc. (NYSE: XYZ) announced that its industrial bank, Square Financial Services, Inc. (SFS) has received FDIC approval to offer Cash App Borrow, a consumer loan product. The service has demonstrated strong market fit with nearly $9 billion in originations in 2024 through an external bank partner, maintaining loss rates below 3%.

Cash App Borrow provides short-term loans averaging less than $100 with approximately one-month duration, offering a more affordable alternative to payday loans and overdraft fees. SFS currently services business loans through Square Loans (averaging $10,000) and Square Savings, which has accumulated over $300M in savings balances as of December 31, 2024.

The implementation will begin in the coming weeks with a gradual approach to scaling loan volumes over subsequent quarters. Customer eligibility and maximum loan amounts are determined by factors including state of residence, Cash App usage, and repayment history.

Block (NYSE: XYZ) has announced its position as North America's first company to deploy the NVIDIA DGX SuperPOD with DGX GB200 systems. The infrastructure will be installed at an Equinix data center, focusing on research and training of open source generative AI models.

The company's CTO, Dhanji R. Prasanna, emphasized Block's commitment to applying AI solutions and advancing frontier AI technology through an open source approach. Block's previous AI research includes work on deepfake detection and hyper-realistic generated audio.

The deployment leverages Lambda 1-Click Clusters for initial testing, providing access to hundreds of interconnected NVIDIA GPUs. The infrastructure will be housed in Equinix's AI-ready data centers, offering data privacy, high-performance computing, and low-latency connectivity. This announcement follows Block's recent launch of 'codename goose,' an open source AI agent framework connecting large language models to real-world actions.

Block (NYSE: XYZ) has announced the release of its fourth quarter 2024 financial results, which are now available on the Financials section of its Investor Relations website. The company will discuss these results during a conference call and earnings webcast scheduled for 2:00 p.m. Pacific Time/5:00 p.m. Eastern Time. Interested parties can register for the conference call through the Events & Presentations section of Block's Investor Relations website.

Square has launched a new video series titled 'Running a Restaurant Is No Joke,' featuring actor and foodie Eric Wareheim. The series, produced in collaboration with Ventureland, showcases three Los Angeles-based restaurateurs and Square sellers: Alisa Reynolds of My 2 Cents, Alvin Cailan of Amboy, and Keegan Fong of Woon Kitchen.

The campaign highlights the challenges and realities of running restaurants while demonstrating how Square's technology helps owners manage operations, adapt with flexible tools, and grow their businesses. Each episode features different aspects of restaurant management, from discussing tough trade-offs and financial management to hiring practices and the evolution of takeout services.

Block (NYSE: XYZ) has appointed Anthony Eisen, Co-Founder of Afterpay and current CEO of Reshop, to its Board of Directors. Eisen, who co-founded Afterpay in 2014 and served as co-CEO, led the company's expansion to reach over 400,000 merchants and 24 million customers worldwide. Under his leadership, Afterpay became a global leader in Buy Now Pay Later services before being acquired by Block in 2022.

Block's Chairman Jack Dorsey praised Eisen's work in creating a beneficial commerce ecosystem and his collaborative leadership style. Before Afterpay, Eisen held senior positions in investment banking and private equity. He currently serves as CEO and Chairman of Reshop, a platform focused on redefining refunds, and is a board member of the Technology Council of Australia.