SQ reported second-quarter 2021 adjusted earnings of 66 cents per share, beating estimate by 106.3%.
Further, the figure rose 266.7% year over year and 60.9% sequentially.
Net revenues of $4.68 billion improved 143% from the prior-year quarter.
However, the figure declined 7.4% from the previous quarter and missed estimate of $5.02 billion.
Year-over-year revenue growth was driven by strong momentum across the Cash App ecosystem, which contributed $3.33 billion to net revenues in the reported quarter, up 177% year over year.
Solid momentum across bitcoin was the key catalyst. Without bitcoin revenues, net revenues would amount to $1.96 billion, up 87% year over year.
Strong growth in transaction, subscription and hardware revenues contributed well to the results.
But there’s no question about it, SQ has incredible fundamentals.
From the technical side of things SQ is still very bullish. It’s currently sitting in a nice channel on the daily and if price holds we could see a new ATH on the cards.
Price above, 50, 100 and 200 MA
MACD sitting above 50.
Keep this on your watchlist.
- Factor Four
Further, the figure rose 266.7% year over year and 60.9% sequentially.
Net revenues of $4.68 billion improved 143% from the prior-year quarter.
However, the figure declined 7.4% from the previous quarter and missed estimate of $5.02 billion.
Year-over-year revenue growth was driven by strong momentum across the Cash App ecosystem, which contributed $3.33 billion to net revenues in the reported quarter, up 177% year over year.
Solid momentum across bitcoin was the key catalyst. Without bitcoin revenues, net revenues would amount to $1.96 billion, up 87% year over year.
Strong growth in transaction, subscription and hardware revenues contributed well to the results.
But there’s no question about it, SQ has incredible fundamentals.
From the technical side of things SQ is still very bullish. It’s currently sitting in a nice channel on the daily and if price holds we could see a new ATH on the cards.
Price above, 50, 100 and 200 MA
MACD sitting above 50.
Keep this on your watchlist.
- Factor Four