Block reported $5.98 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 6.4%. EPS of $0.88 for the same period compares to $0.55 a year ago.
The reported revenue represents a surprise of -3.09% over the Zacks Consensus Estimate of $6.17 billion. With the consensus EPS estimate being $0.88, the company has not delivered EPS surprise.
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): $62.49 billion versus the four-analyst average estimate of $63.58 billion.
- Revenue- Hardware: $36.84 million versus the six-analyst average estimate of $39.24 million. The reported number represents a year-over-year change of -13%.
- Revenue- Subscription and services-based: $1.80 billion compared to the $1.80 billion average estimate based on six analysts. The reported number represents a change of +20.4% year over year.
- Revenue- Transaction-based: $1.71 billion versus $1.75 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +3.2% change.
- Revenue- Bitcoin: $2.43 billion versus the six-analyst average estimate of $2.61 billion. The reported number represents a year-over-year change of +0.2%.
- Revenue- Square- Total: $2 billion versus the four-analyst average estimate of $2.01 billion. The reported number represents a year-over-year change of +1%.
- Revenue- Square- Hardware: $36.73 million versus the three-analyst average estimate of $38.78 million. The reported number represents a year-over-year change of -13.3%.
- Revenue- Corporate and Other- Total: $44.49 million versus the three-analyst average estimate of $50.60 million. The reported number represents a year-over-year change of -11.3%.
- Revenue- Square- Subscription and services-based: $322.58 million versus the three-analyst average estimate of $324.59 million. The reported number represents a year-over-year change of -19.8%.
- Revenue- Square- Transaction-based: $1.64 billion versus the three-analyst average estimate of $1.65 billion. The reported number represents a year-over-year change of +6.8%.
- Revenue- Cash App- Bitcoin: $2.43 billion versus $2.66 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +0.2% change.
- Revenue- Cash App- Transaction-based: $70 million compared to the $95.68 million average estimate based on three analysts. The reported number represents a change of -42.1% year over year.
View all Key Company Metrics for Block here>>>Shares of Block have returned +13.7% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Block (SQ) Q3 Earnings
Block reported $5.98 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 6.4%. EPS of $0.88 for the same period compares to $0.55 a year ago.
The reported revenue represents a surprise of -3.09% over the Zacks Consensus Estimate of $6.17 billion. With the consensus EPS estimate being $0.88, the company has not delivered EPS surprise.
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): $62.49 billion versus the four-analyst average estimate of $63.58 billion.
- Revenue- Hardware: $36.84 million versus the six-analyst average estimate of $39.24 million. The reported number represents a year-over-year change of -13%.
- Revenue- Subscription and services-based: $1.80 billion compared to the $1.80 billion average estimate based on six analysts. The reported number represents a change of +20.4% year over year.
- Revenue- Transaction-based: $1.71 billion versus $1.75 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +3.2% change.
- Revenue- Bitcoin: $2.43 billion versus the six-analyst average estimate of $2.61 billion. The reported number represents a year-over-year change of +0.2%.
- Revenue- Square- Total: $2 billion versus the four-analyst average estimate of $2.01 billion. The reported number represents a year-over-year change of +1%.
- Revenue- Square- Hardware: $36.73 million versus the three-analyst average estimate of $38.78 million. The reported number represents a year-over-year change of -13.3%.
- Revenue- Corporate and Other- Total: $44.49 million versus the three-analyst average estimate of $50.60 million. The reported number represents a year-over-year change of -11.3%.
- Revenue- Square- Subscription and services-based: $322.58 million versus the three-analyst average estimate of $324.59 million. The reported number represents a year-over-year change of -19.8%.
- Revenue- Square- Transaction-based: $1.64 billion versus the three-analyst average estimate of $1.65 billion. The reported number represents a year-over-year change of +6.8%.
- Revenue- Cash App- Bitcoin: $2.43 billion versus $2.66 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +0.2% change.
- Revenue- Cash App- Transaction-based: $70 million compared to the $95.68 million average estimate based on three analysts. The reported number represents a change of -42.1% year over year.
View all Key Company Metrics for Block here>>>Shares of Block have returned +13.7% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.