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00:02Block shares fell after the company reported second quarter earnings in revenue that beat
00:06analyst estimates, according to Benzinga. The company reported second quarter earnings of
00:10$1.02 per share on revenue of $6.62 billion, beating analyst estimates of $0.87 per share
00:17and $6.49 billion. Cash App Commerce Enablement Volume rose 17% year-over-year to $56.5 billion,
00:25while consumer lending originations increased 59% to $18.9 billion. Cash App had 59 million
00:33monthly transacting active users in June. Square Gross Payment Volume grew 13%, with U.S. volume
00:38rising 10% and international volume increasing 28%. CEO Jack Dorsey said Block's advantage lies in
00:45understanding its customers and connecting its capabilities across its network as AI makes
00:49software creation more common. Shares fell 4.39% to $80.50 in Wednesday's extended
00:55trading, according to data from Benzinga Pro. For all things money, visit Benzinga.com.
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