Payments Culture

Payments Culture

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Payments Culture
Payments Culture
News Review - Block's earnings miss, agentic commerce and much more

News Review - Block's earnings miss, agentic commerce and much more

A curated look at what's been going on in payments and fintech

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Matt Jones
May 09, 2025
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Payments Culture
Payments Culture
News Review - Block's earnings miss, agentic commerce and much more
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Disclaimer: views expressed here are my own and do not represent any other organisation

News Review is the first of a new series on this Substack.

I’m looking back at what’s been going on over the past month in payments and fintech. Starting with a lead story, I’ll share a curated roundup of what’s been making the news, plus a few stories you may have missed.

The lead story: Block’s earnings miss

Block (NYSE: XYZ), formerly known as Square, held its earnings call last Thursday, May 1st. Amrita Ahuja, Block’s COO and CFO, said on the earnings call:

Cash App gross profit came in below expectations… During the quarter, non-discretionary Cash App Card spend in areas like grocery and gas was more resilient, while we saw a more pronounced impact to discretionary spending in areas like travel and media. We believe this consumer softness was a key driver of our forecast miss.

At the end of her section, perhaps anticipating market reaction, Amrita added:

We have the team, strategy, and organization…

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