Square quarterly profit jumps on bitcoin boost
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November 5, 2021 7:27 AM EDT
Needham & Company analyst Mayank Tandon lowered the price target on Square (NYSE: SQ) to $315.00 (from $350.00) while maintaining a Buy rating.
The analyst commented, "SQ reported mixed 3Q results, beating expectations on revenue from the seller ecosystem but coming in a bit... More
November 5, 2021 5:27 AM EDT
Shares of Square (NYSE: SQ) are down nearly 5% in pre-open Friday after the fintech giant reported weaker-than-expected Q3 results.
Square reported Q3 EPS of $0.37 to miss on 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 delivered strong growth at scale during the third quarter of 2021. Gross profit grew 43% year over year to $1.13 billion, which was 51% on a two-year compound annual growth rate (CAGR) basis. In our Seller ecosystem, gross profit was $606 million, up 48% year over year and 29% on a two-year CAGR... More
November 4, 2021 6:06 PM EDT
Square (NYSE: SQ) shares fell 4.7% after-hours after the company reported its Q3 results, with EPS coming in at $0.37, slightly lower than the consensus estimate of $0.39. Quarterly revenue grew 27% to $3.84 billion.
In the quarter, gross profits jumped 43% to $1.13 billion. Seller ecosystem generated gross... More
