Block Announces Third Quarter 2024 Results
Block (NYSE: SQ) reported strong Q3 2024 results with 19% year-over-year gross profit growth. The company saw improvements across all profitability measures and positive Square GPV trends heading into Q4. Cash App showed increased engagement with gross profit per active reaching $75 in Q3 annualized, up 16% year-over-year. Block's banking strategy demonstrated progress with inflows per active up 9% year-over-year. The company launched new products including Orders Platform and enhanced Square seller features. Block raised its 2024 guidance for Adjusted EBITDA and Adjusted Operating Income, maintaining its commitment to achieving Rule of 40 in 2026.
Block (NYSE: SQ) ha riportato risultati solidi per il terzo trimestre del 2024 con una crescita del 19% del profitto lordo rispetto all'anno precedente. L'azienda ha registrato miglioramenti in tutte le misure di redditività e tendenze positive nel GPV di Square in vista del quarto trimestre. Cash App ha mostrato un aumento dell'engagement con un profitto lordo per utente attivo che ha raggiunto $75 nel terzo trimestre annualizzato, in crescita del 16% rispetto all'anno precedente. La strategia bancaria di Block ha dimostrato progressi con i flussi di cassa per attivo aumentati del 9% rispetto all'anno precedente. L'azienda ha lanciato nuovi prodotti, tra cui la Piattaforma Ordini e funzionalità potenziate per i venditori Square. Block ha alzato le stime per il 2024 relative all'EBITDA Adjusted e al Reddito Operativo Adjusted, mantenendo il suo impegno per raggiungere la Regola del 40 nel 2026.
Block (NYSE: SQ) informó sobre sólidos resultados del tercer trimestre de 2024 con un crecimiento del 19% en la ganancia bruta interanual. La empresa vio mejoras en todas las medidas de rentabilidad y tendencias positivas en el GPV de Square de cara al cuarto trimestre. Cash App mostró un aumento en el compromiso con una ganancia bruta por usuario activo que alcanzó $75 en el tercer trimestre anualizado, un aumento del 16% interanual. La estrategia bancaria de Block demostró avances con entradas por activo que crecieron un 9% interanual. La empresa lanzó nuevos productos incluyendo la Plataforma de Pedidos y mejoró las características para vendedores de Square. Block elevó su guía de 2024 para EBITDA Ajustado e Ingreso Operativo Ajustado, manteniendo su compromiso de alcanzar la Regla del 40 en 2026.
Block (NYSE: SQ)는 2024년 3분기 동안 전년 대비 19%의 매출 총이익 성장을 기록하며 강력한 실적을 발표했습니다. 회사는 모든 수익성 지표에서 개선을 보였고, 4분기를 맞이하며 Square GPV의 긍정적인 추세를 관찰했습니다. Cash App은 활성 사용자당 총 이익이 3분기 연환산 기준으로 $75에 도달하며 전년 대비 16% 증가했다고 보고되었습니다. Block의 은행 전략은 활성당 유입이 전년 대비 9% 증가하며 진전을 보였습니다. 회사는 주문 플랫폼 및 Square 판매자 기능을 강화하는 등 새로운 제품을 출시했습니다. Block은 2024년에 대한 조정 EBITDA 및 조정 운영 소득 가이던스를 상향 조정하며 2026년까지 40의 규칙을 달성하겠다는 의지를 유지했습니다.
Block (NYSE: SQ) a annoncé de solides résultats pour le troisième trimestre 2024 avec une croissance de 19% de son bénéfice brut par rapport à l'année précédente. L'entreprise a constaté des améliorations dans toutes les mesures de rentabilité et des tendances positives pour le GPV de Square à l'approche du quatrième trimestre. Cash App a montré un engagement accru avec un bénéfice brut par utilisateur actif atteignant $75 pour le troisième trimestre annualisé, soit une augmentation de 16% par rapport à l'an dernier. La stratégie bancaire de Block a montré des progrès avec des entrées par utilisateur actif en hausse de 9% par rapport à l'année précédente. L'entreprise a lancé de nouveaux produits, y compris une plateforme de commandes et a amélioré les fonctionnalités pour les vendeurs Square. Block a relevé ses prévisions pour 2024 concernant l'EBITDA ajusté et le revenu d'exploitation ajusté, tout en maintenant son engagement à atteindre la règle de 40 en 2026.
Block (NYSE: SQ) berichtete über starke Ergebnisse im 3. Quartal 2024 mit einem Wachstum des Bruttogewinns von 19% im Jahresvergleich. Das Unternehmen verzeichnete Verbesserungen in allen Rentabilitätskennzahlen und positive Trends beim GPV von Square für das 4. Quartal. Die Cash App zeigte ein erhöhtes Engagement, wobei der Bruttogewinn pro aktivem Nutzer im 3. Quartal auf $75 annualisiert anstieg, was einer Steigerung von 16% im Jahresvergleich entspricht. Die Bankstrategie von Block zeigte Fortschritte mit Zuflüssen pro Aktivem, die um 9% im Jahresvergleich stiegen. Das Unternehmen führte neue Produkte ein, einschließlich der Bestellplattform und verbesserter Funktionen für Square-Verkäufer. Block erhöhte ihre Prognose für 2024 für bereinigtes EBITDA und bereinigtes Betriebsergebnis und bekräftigte ihr Engagement, die Regel von 40 bis 2026 zu erreichen.
- 19% year-over-year gross profit growth in Q3
- Improvement across all profitability measures
- Cash App gross profit per active up 16% YoY to $75
- Banking inflows per active increased 9% YoY
- Raised 2024 guidance for Adjusted EBITDA and Operating Income
- None.
Insights
Block's Q3 results demonstrate robust financial health with
The increased 2024 guidance for Adjusted EBITDA and Operating Income, coupled with the commitment to achieving Rule of 40 by 2026, signals management's confidence in sustainable growth and margin expansion. The acceleration of Square's partnership strategy and new product launches like Orders Platform indicate strategic investments in expanding market share and deepening merchant relationships.
- Strong Q3 results as we delivered gross profit growth of
19% year over year, and year-over-year improvement across all profitability measures in Q3 - Improving Square GPV trends into Q4 with an improvement in U.S. GPV growth year-over-year in October. We expect U.S. and Global GPV growth to improve modestly in the fourth quarter compared to the third quarter, and accelerate from these levels in 2025
- Key product launches including Orders Platform in Q3, enabling Pre-Auth and Bar Tabs for Square sellers
- Accelerated partnership strategy for Square, signing several new partners across markets
- Growing engagement on Cash App with gross profit per active of
$75 in Q3 on an annualized basis, up16% year-over-year - Momentum on Cash App’s Bank our Base strategy with inflows per active up
9% year over year, and quarter-over-quarter growth in paycheck deposit actives - Increased 2024 guidance on Adjusted EBITDA and Adjusted Operating Income and remain committed to achieving Rule of 40 in 2026
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Block will host a conference call and earnings webcast at 2:00 p.m. Pacific Time/5:00 p.m. Eastern Time today to discuss these financial results. To register to participate in the conference call, please visit the Events & Presentations section of Block’s Investor Relations website at investors.block.xyz.
About Block
Block, Inc. (NYSE: SQ) (formerly, Square, Inc.) is a global technology company with a focus on financial services. Made up of Square, Cash App, TIDAL, and TBD, we build tools to help more people access the economy. Square makes commerce and financial services easy and accessible for sellers with its integrated ecosystem of technology solutions. With Cash App, anyone can easily send, spend, or invest their money in stocks or bitcoin. Afterpay brings Square and Cash App together, connecting consumers and businesses. Artists use TIDAL to help them succeed as entrepreneurs and connect more deeply with fans. TBD is building an open source platform and developer infrastructure that enables everyone to access and participate in the global economy.
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Media Contact
press@block.xyz
Investor Relations Contact
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Source: Block, Inc.
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