{"id":313784,"date":"2021-08-02T03:21:00","date_gmt":"2021-08-02T00:21:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/earnings-results-square-posts-upbeat-profits-while-also-announcing-29-billion-deal-for-afterpay\/"},"modified":"2021-08-02T03:21:00","modified_gmt":"2021-08-02T00:21:00","slug":"earnings-results-square-posts-upbeat-profits-while-also-announcing-29-billion-deal-for-afterpay","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/earnings-results-square-posts-upbeat-profits-while-also-announcing-29-billion-deal-for-afterpay\/","title":{"rendered":"#Earnings Results: Square posts upbeat profits while also announcing $29 billion deal for Afterpay"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af2a22ad6e9e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af2a22ad6e9e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/earnings-results-square-posts-upbeat-profits-while-also-announcing-29-billion-deal-for-afterpay\/#Company_had_40_million_active_monthly_transaction_customers_on_its_Cash_App_during_the_month_of_June\" >Company had 40 million active monthly transaction customers on its Cash App during the month of June<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/earnings-results-square-posts-upbeat-profits-while-also-announcing-29-billion-deal-for-afterpay\/#Emily_Bary\" >Emily Bary<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Earnings Results: Square posts upbeat profits while also announcing $29 billion deal for Afterpay<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Company_had_40_million_active_monthly_transaction_customers_on_its_Cash_App_during_the_month_of_June\"><\/span>\n  Company had 40 million active monthly transaction customers on its Cash App during the month of June<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000359305\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000359305\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Square Inc.\u2019s surprise release of its quarterly earnings report Sunday was its second-biggest <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> of the night, behind the announcement that it plans to purchase Australian buy-now pay-later company Afterpay Ltd. in a $29 billion all-stock deal.<\/p>\n<p><strong>See more: Square to buy Australia\u2019s Afterpay in $29 billion deal<\/strong><\/p>\n<div class=\"paywall\">\n<p>The payment-processing company posted second-quarter net income of $204.0 million, or 40 cents a share, whereas it reported a loss of $11.5 million, or 3 cents a share, in the year-prior quarter. On an adjusted basis, Square earned 66 cents a share, up from 18 cents a year earlier and above the FactSet consensus, which called for 31 cents. <\/p>\n<p>Square<br \/>\n        SQ,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205989440\/composite\" class=\"negative\">-3.14%<\/bg-quote><br \/>\n       recorded revenue of $4.68 billion in the second quarter, up from $1.92 billion a year prior, while analysts were expecting $5.03 billion. The company saw total gross profit nearly double to $1.14 billion from $596.8 million. Roughly half of the quarter\u2019s total came from the Cash <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a>, which brought in $546 million in gross profit. <\/p>\n<p>The company saw $2.72 billion in bitcoin<br \/>\n        BTCUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/31322028\/realtime\" class=\"negative\">-3.77%<\/bg-quote><br \/>\n       revenue, but $2.67 billion in bitcoin costs during the quarter. <\/p>\n<p>Square disclosed that in the month of June, it had 40 million monthly transacting active customers for the Cash App. A presentation slide deck focused on the Afterpay deal referenced \u201c70 million annual active Cash App customers.\u201d <\/p>\n<p>The company pointed to traction in its efforts to get Cash App customers to do more with the product beyond sending money to friends. Almost 4.5 million customers held a stock or exchange-traded fund through the company\u2019s brokerage offering during the second quarter, marking an increase of more than three times relative to a year earlier. <\/p>\n<p>Square\u2019s seller business brought in $1.31 billion of revenue and $585 million of gross profit in the quarter. Square highlighted improvements in in-person spending amid a relaxing of restrictions around the pandemic, though online channels still contributed \u201cstrong growth,\u201d per the investor letter. <\/p>\n<p>Square noted that it expects \u201cstrong gross profit growth\u201d for the month of July relative to a year ago, and it also expects seller gross payment volume to be up more than 45% on a year-over-year basis. For the third quarter, Square anticipates adjusted product development, sales and marketing, and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> and administrative expenses to be up by about $150 million compared with what was seen in the second quarter of 2021. <\/p>\n<p>The company has scheduled an investor call for 8 a.m. ET on Monday, with the call likely to feature additional information about its plans for Afterpay<br \/>\n        AFTPY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/217294872\/composite\" class=\"negative\">-6.06%<\/bg-quote><\/p>\n<p>        APT,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207831648\/delayed\" class=\"positive\">+18.77%<\/bg-quote><span>.<\/span>\n       <\/p>\n<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Emily Bary\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/author\/emily-bary-1\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/emilybary\",\"text\":\"@emilybary\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:ebary@marketwatch.com\",\"text\":\"ebary@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Emily_Bary\"><\/span>Emily Bary<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-757B-89977DA535B5%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Earnings Results: Square posts upbeat profits while also announcing $29 billion deal for Afterpay&#8221; Company had 40 million active monthly transaction customers on its Cash App during the month of June Square Inc.\u2019s surprise release of its quarterly earnings report Sunday was its second-biggest news of the night, behind the announcement that it plans to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":313785,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-313784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/313784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=313784"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/313784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/313785"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=313784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=313784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=313784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}