British stock trading app Freetrade finally turned a small profit in the first quarter of 2024. This is significant as the company had been making losses in previous years. The positive results have encouraged investors who have been waiting for the company to become profitable. Despite facing competition from large players like Robinhood, Freetrade's CEO remains confident about its growth prospects.
Block reported strong Q4 earnings, surpassing estimates with $5.77 billion in revenue and 22% growth in gross profit. Both its Square and Cash App divisions performed well, with Cash App's gross profit increasing by 25% and monthly active users reaching 56 million. Despite cost-cutting measures, Block faced challenges with its Afterpay acquisition. Wall Street responded positively, upgrading ratings and raising price targets for the company.
