Jack Dorse, CEO Square, speaks on stage at the Bitcoin 2021 convention, a cryptocurrency conference at the Mana Convention Center at Wytwood in Miami, Florida, June 4, 2021.
Joe Raedle Getty images
Block Reported Fourth quarter results On Thursday it was not expectations for Wall Street. Actions fell by more than 7% in extended trade.
Here's how the company, compared to the estimates of the consensus of LSEG analysts.
- Profit per share: 71 corrected cents vs. 87 expected cents
- Income: USD 6.03 Expected billions of vs. $ 6.29 billion
Revenues increased by approximately 4.5% from USD 5.77 billion a year earlier.
Block, previously known as Square, published $ 2.31 billion gross profit, which is an increase of $ 2.03 billion a year ago. A company that was an early leader in providing systems at the sales point for smaller companies is in the face of increased competition from such as such Toast AND Fiserv's Clover unit.
Gross volume of payment amounted to USD 61.95 billion, According to Streetaccount, overcoming analysts of $ 61.3 billion. Block has published corrected earnings against interest, taxes, depreciation and depreciation or EBITDA in the amount of USD 757 million, which is an exceeding of estimates of analysts worth USD 740 million.
Block said that he expected that this year it will provide a gross profit increase of 15% to USD 10.22 billion and corrected operating income in the amount of USD 2.1 billion for the 21% margin.
Block's Payements Business has expanded beyond traditional transactions at the point of sale, include loans and financial services. The company has now purchased Australian Buy, they pay a later company for $ 29 billion in 2021, integrating the service with the cash application and Square ecosystem.
CEO Jack Dorsey He placed the Block application card as a potential alternative to traditional credit cards, with plans to deepen the connection with Afterpay. Analysts perceive loans as a key factor of future monetization, and some indicate additional possibilities of revenues in commercial services and commercials in the cash application.
The cash application, a popular mobile payment platform and a key general profitability factor, recorded $ 1.38 billion of gross profit, which is an increase of 16% year -on -year and ahead of the analyst's respect by $ 1.36 billion.
“From the perspective of cash applications, together with the bank, our basic strategy, it is important that we continue to increase commitment with our clients,” said CNBC, financial director of Amrita Ahuja. She said that the number of active payments deposits increased by 25% to 2.5 million.
Under the leadership of Dorsey Block he jumped into cryptocurrencies, creating a new unit focused on its efforts in this area. However, last year, the company completed some of these projects after it did not gain adhesion.
– – Robert Hum from CNBC contributed to this report.
