What to Expect From Square's Earnings. Beat or Miss?

Square (NYSE: SQ) is reporting Q2 earnings on August 5. As always, I will recap what happened with Square in this quarter. We're going to take a look at its Q1 financial numbers, the recent acquisition of Crew, and the new Bitcoin platform that Jack Dorsey has announced. You can find the video below. 

In Q1, Square reported total net revenue of $5.06 billion versus an estimated $3.36 billion and earnings per share of $0.41 versus an estimated $0.16. The current estimate for this quarter is for earnings per share of $0.30. I expect Square to beat earnings across the board due to the economy's reopening, which will help the seller side of the ecosystem.

Gross profit of $964 million was up 79% year over year. The company reported adjusted EBITDA of $236 million, seller gross profit of $468 million, up 32% year over year, and Cash App gross profit of $495 million, up 171%. 

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Source Fool.com