What to Expect From Square's Q3 Earnings
Square (NYSE: SQ) is reporting Q3 earnings on November 4. So as always, I will recap what happened with Square in this quarter. We're going to have a look at its Q2 numbers and some of the company's activities during the quarter. You can find the video below.
The company reported revenue of $4.68 billion, up 143% year over year, vs. $4.99 billion expected, beating earnings-per-share estimates by $0.09. Revenue excluding Bitcoin was $1.96 billion, up 87% year over year (YOY). Cash App gross profit was $546 million, up 94% YOY, and seller gross profit was up to $585 million, up 85% YOY. Net income for the second quarter was $204 million. Square processed $42.8 billion in gross payment volume (GPV) in Q2, up 88% YOY.
The company announced the acquisition of Afterpay for around $29 billion. The acquisition should close in Q1 of 2022.
Source Fool.com
