Categories AlphaGraphs, Earnings, Finance
Earnings Infographic: Highlights of Square’s (SQ) Q3 2021 results
Square, Inc. (NYSE: SQ) reported weaker-than-expected revenues for the third quarter of 2021, though the top-line grew by 27%. Adjusted earnings increased but missed estimates by a penny. Shares of the digital payments company traded lower in premarket trading on Friday, after closing the previous session lower.
Third-quarter earnings, adjusted for one-off items, rose to $0.37 per share from $0.34 per share in the comparable period of 2020 but fell short of Wall Street’s forecast. On an unadjusted basis, the company reported a net income of $0.1million, which is sharply lower than last year’s profit of $36.5 million or $0.07 per share.
Gross profit was $1.13 billion, up 43% from the prior-year quarter and up 51% on a two-year CAGR basis. Driving the earnings growth, total revenues climbed 27% year-over-year to $3.84 billion. Market watchers were looking for a bigger increase. Excluding bitcoin, net revenue increased 45%.
Square Invoices, the all-in-one invoicing software, registered strong growth and processed around $12 billion in gross payment volume. During the quarter, the company launched Cash App Pay, thereby facilitating integration between the Cash App and seller ecosystems.
Read management/analysts’ comments on Square’s Q3 2021 results
The company’s stock traded lower on Friday morning, extending the recent weakness, after closing the last session at $242.48. It has gained around 25% over the past twelve months.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Broadcom (AVGO) reports higher Q3 revenue and profit; results beat estimates
Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) reported higher revenues and adjusted earnings for the third quarter of 2024 amid continued strong demand. The Q3 numbers also topped expectations. Earnings, excluding
Key takeaways from Hewlett Packard’s (HPE) Q3 2024 earnings report
Hewlett Packard Enterprise (NYSE: HPE) has delivered stronger-than-expected third-quarter results amid significant conversion in AI system revenues. The prospects for the company's AI server and edge computing businesses look promising
Hormel Foods (HRL): Factors that put a damper on the food company’s Q3 performance
Shares of Hormel Foods Corporation (NYSE: HRL) were up over 2% on Thursday. The stock is recovering from a fall it took a day ago after the company delivered mixed