Block (SQ - Free Report) reported $5.62 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 24.4%. EPS of $0.55 for the same period compares to $0.42 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.41 billion, representing a surprise of +3.89%. The company delivered an EPS surprise of +25.00%, with the consensus EPS estimate being $0.44.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Block performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Gross Payment Volume (GPV): $60.08 billion versus $61.23 billion estimated by seven analysts on average.
- Revenue- Hardware revenue: $42.34 million compared to the $44.84 million average estimate based on 10 analysts. The reported number represents a change of -2.4% year over year.
- Revenue- Subscription and services-based revenue: $1.49 billion compared to the $1.46 billion average estimate based on 10 analysts. The reported number represents a change of +25.3% year over year.
- Revenue- Transaction-based revenue: $1.66 billion versus the 10-analyst average estimate of $1.68 billion. The reported number represents a year-over-year change of +9.3%.
- Revenue- Bitcoin revenue: $2.42 billion versus $2.18 billion estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +37.5% change.
- Revenue- Square- Total: $1.98 billion versus the six-analyst average estimate of $1.97 billion.
- Revenue- Square- Hardware revenue: $42.34 million compared to the $45.94 million average estimate based on five analysts.
- Revenue- Corporate and Other- Total: $50.18 million compared to the $47.50 million average estimate based on five analysts.
- Revenue- Square- Subscription and services-based revenue: $402.13 million versus $387.55 million estimated by five analysts on average.
- Revenue- Square- Transaction-based revenue: $1.66 billion compared to the $1.53 billion average estimate based on five analysts.
- Revenue- Cash App- Bitcoin revenue: $2.42 billion versus $2.33 billion estimated by five analysts on average.
- Revenue- Cash App- Transaction-based revenue: $120.78 million versus $137.74 million estimated by five analysts on average.
View all Key Company Metrics for Block here>>>Shares of Block have returned -2.2% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
Block (SQ - Free Report) reported $5.62 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 24.4%. EPS of $0.55 for the same period compares to $0.42 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.41 billion, representing a surprise of +3.89%. The company delivered an EPS surprise of +25.00%, with the consensus EPS estimate being $0.44.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Block performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Gross Payment Volume (GPV): $60.08 billion versus $61.23 billion estimated by seven analysts on average.
- Revenue- Hardware revenue: $42.34 million compared to the $44.84 million average estimate based on 10 analysts. The reported number represents a change of -2.4% year over year.
- Revenue- Subscription and services-based revenue: $1.49 billion compared to the $1.46 billion average estimate based on 10 analysts. The reported number represents a change of +25.3% year over year.
- Revenue- Transaction-based revenue: $1.66 billion versus the 10-analyst average estimate of $1.68 billion. The reported number represents a year-over-year change of +9.3%.
- Revenue- Bitcoin revenue: $2.42 billion versus $2.18 billion estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +37.5% change.
- Revenue- Square- Total: $1.98 billion versus the six-analyst average estimate of $1.97 billion.
- Revenue- Square- Hardware revenue: $42.34 million compared to the $45.94 million average estimate based on five analysts.
- Revenue- Corporate and Other- Total: $50.18 million compared to the $47.50 million average estimate based on five analysts.
- Revenue- Square- Subscription and services-based revenue: $402.13 million versus $387.55 million estimated by five analysts on average.
- Revenue- Square- Transaction-based revenue: $1.66 billion compared to the $1.53 billion average estimate based on five analysts.
- Revenue- Cash App- Bitcoin revenue: $2.42 billion versus $2.33 billion estimated by five analysts on average.
- Revenue- Cash App- Transaction-based revenue: $120.78 million versus $137.74 million estimated by five analysts on average.
View all Key Company Metrics for Block here>>>Shares of Block have returned -2.2% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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