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Compared to Estimates, Block (SQ) Q4 Earnings: A Look at Key Metrics
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For the quarter ended December 2023, Block (SQ - Free Report) reported revenue of $5.77 billion, up 24.1% over the same period last year. EPS came in at $0.45, compared to $0.22 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5.69 billion, representing a surprise of +1.47%. The company delivered an EPS surprise of -22.41%, with the consensus EPS estimate being $0.58.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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): $57.49 billion versus $58.85 billion estimated by seven analysts on average.
Revenue- Subscription and services-based revenue: $1.62 billion versus the nine-analyst average estimate of $1.55 billion. The reported number represents a year-over-year change of +24.3%.
Revenue- Transaction-based revenue: $1.60 billion compared to the $1.61 billion average estimate based on nine analysts. The reported number represents a change of +8.2% year over year.
Revenue- Bitcoin revenue: $2.52 billion compared to the $2.48 billion average estimate based on nine analysts. The reported number represents a change of +37.5% year over year.
Revenue- Hardware revenue: $32.46 million versus $39.47 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a -8.9% change.
Revenue- Corporate and Other- Total: $49.70 million versus $57.52 million estimated by six analysts on average.
Revenue- Square- Total: $1.81 billion versus $1.92 billion estimated by six analysts on average.
Revenue- Square- Hardware revenue: $32.46 million compared to the $40.18 million average estimate based on five analysts.
Revenue- Square- Subscription and services-based revenue: $293.16 million compared to the $387.33 million average estimate based on five analysts.
Revenue- Square- Transaction-based revenue: $1.49 billion versus $1.48 billion estimated by five analysts on average.
Revenue- Cash App- Bitcoin revenue: $2.52 billion compared to the $2.45 billion average estimate based on five analysts.
Revenue- Cash App- Transaction-based revenue: $108.99 million versus the five-analyst average estimate of $123.72 million.
Shares of Block have returned +3% over the past month versus the Zacks S&P 500 composite's +3.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, Block (SQ) Q4 Earnings: A Look at Key Metrics
For the quarter ended December 2023, Block (SQ - Free Report) reported revenue of $5.77 billion, up 24.1% over the same period last year. EPS came in at $0.45, compared to $0.22 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5.69 billion, representing a surprise of +1.47%. The company delivered an EPS surprise of -22.41%, with the consensus EPS estimate being $0.58.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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): $57.49 billion versus $58.85 billion estimated by seven analysts on average.
- Revenue- Subscription and services-based revenue: $1.62 billion versus the nine-analyst average estimate of $1.55 billion. The reported number represents a year-over-year change of +24.3%.
- Revenue- Transaction-based revenue: $1.60 billion compared to the $1.61 billion average estimate based on nine analysts. The reported number represents a change of +8.2% year over year.
- Revenue- Bitcoin revenue: $2.52 billion compared to the $2.48 billion average estimate based on nine analysts. The reported number represents a change of +37.5% year over year.
- Revenue- Hardware revenue: $32.46 million versus $39.47 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a -8.9% change.
- Revenue- Corporate and Other- Total: $49.70 million versus $57.52 million estimated by six analysts on average.
- Revenue- Square- Total: $1.81 billion versus $1.92 billion estimated by six analysts on average.
- Revenue- Square- Hardware revenue: $32.46 million compared to the $40.18 million average estimate based on five analysts.
- Revenue- Square- Subscription and services-based revenue: $293.16 million compared to the $387.33 million average estimate based on five analysts.
- Revenue- Square- Transaction-based revenue: $1.49 billion versus $1.48 billion estimated by five analysts on average.
- Revenue- Cash App- Bitcoin revenue: $2.52 billion compared to the $2.45 billion average estimate based on five analysts.
- Revenue- Cash App- Transaction-based revenue: $108.99 million versus the five-analyst average estimate of $123.72 million.
View all Key Company Metrics for Block here>>>Shares of Block have returned +3% over the past month versus the Zacks S&P 500 composite's +3.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.