Square (NYSE: SQ) reported Q3 EPS of $0.37, $0.01 worse than the analyst estimate of $0.38. Revenue for the quarter came in at $3.84 billion versus the consensus estimate of $4.6 billion.

• We wanted to provide an update on the trends in our business during the month of October. We believe two-year compound annual growth rates from 2019 through 2021 will help reflect underlying trends in each ecosystem. Seller ecosystem • In October, we expect Seller to deliver strong gross profit growth year over year and on a two-year CAGR basis. • Seller GPV is expected to be up 42% year over year in October, and the two-year CAGR is expected to be up 24%, a slight improvement compared to 23% growth in the third quarter on a two-year CAGR basis. GPV growth trends continued to vary by region, product, and vertical, depending primarily on differences in the timing and phases of reopenings. Cash App ecosystem • In October, we expect Cash App to deliver strong gross profit growth year over year and on a two-year CAGR basis driven by growth in monthly actives, engagement across our ecosystem, and inflows into Cash App.

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