Block, Inc. - SQ STOCK NEWS

Square (NYSE: SQ) has entered a Scheme Implementation Deed to acquire Afterpay (ASX: APT) for approximately US$29 billion (A$39 billion), using an all-stock transaction. This acquisition aims to enhance Square's Cash App and Seller ecosystems, facilitating access to financial products and expanding merchant revenue opportunities. Afterpay, a global leader in 'buy now, pay later' services, serves over 16 million consumers and nearly 100,000 merchants. The transaction is expected to close in Q1 2022, pending regulatory approvals and shareholder consent.

Square, Inc. (NYSE: SQ) has released its second-quarter 2021 financial results, available on its Investor Relations website. The company will file these results with the SEC on August 2, 2021. Additionally, Square has canceled its earnings call initially scheduled for August 5 and will instead discuss the financial results at 5:00 a.m. Pacific time on August 2. Square's services empower businesses and individuals in the economy, with tools for online sales, business management, and financing.

Square has launched Square Banking, a suite of financial products aimed at assisting small business owners in managing their cash flow. The offering includes Square Savings, Square Checking, and Square Loans. Square Savings features automated savings with customizable folders and a 0.5% APY, while Square Checking allows instant access to funds with no fees. Square Loans, which has facilitated over $9 billion in loans, provides personalized financing based on sales, not credit history. This initiative aims to enhance access to banking services for underbanked small businesses.

Square (NYSE: SQ) has acquired Crew, a platform designed for frontline employees, enhancing its labor management tools. This acquisition aims to streamline communication for hourly workforces, which represent over half of U.S. wage workers. With Crew, Square will strengthen its messaging and operational capabilities, providing a cohesive solution for scheduling and team management. Square's General Manager emphasized this move as a commitment to help sellers manage their workforce efficiently as they grow their businesses. The integration is expected to improve employee experiences within Square's ecosystem.

Square is set to disclose its financial results for Q2 2021 on August 5, 2021, after market close. A conference call and earnings webcast will follow at 2:00 p.m. PT/5:00 p.m. ET. Interested participants can register via Square's Investor Relations website. Square, traded under the symbol SQ, provides tools for businesses and individuals, enabling online and in-person transactions, financial management, and investment through Cash App. The company operates globally with offices in multiple countries.

The beauty industry is recovering strongly post-COVID, with gross payment volumes and appointment bookings exceeding pre-pandemic levels. Square reports an 81% increase in completed reservations compared to pre-pandemic figures, alongside a 121% year-over-year growth in gross payment volume. Hiring is also rebounding, with a 34% year-over-year increase in employees per business. New trends, such as body contouring and eyelash extensions, saw significant demand rise. Square Appointments facilitated this recovery, achieving its 200 millionth booking in the first half of 2021.

Square has launched a new integration with Google Merchant Center, enabling Square for Retail sellers to directly list their products on Google. This initiative allows sellers to better reach customers through platforms like Search, Maps, and YouTube, enhancing visibility without additional costs. The integration aims to support independent businesses, especially during the pandemic, by increasing their online presence. Square executives express optimism about this partnership, anticipating it will unlock new opportunities for retailers and enhance consumer choice in shopping.

Linktree announces the launch of the Passion Fund in partnership with Square on May 26, 2021. The fund, which totals $250,000, aims to support creators and entrepreneurs by providing financial resources and tools to turn their passions into careers. The Passion Fund will offer awards across three tiers: Gold, Silver, and Bronze, with amounts ranging from $1,000 to $20,000. Additionally, winners will receive exclusive benefits from Linktree, including marketing workshops and no transaction fees on Commerce Links.

Square has launched Square KDS, a subscription-based kitchen display software, making it accessible for all restaurants, including delivery-only kitchens. Initially introduced for Square for Restaurants Plus users, it now operates as a standalone solution, enhancing order management efficiency. Features include ticket timers, performance reports, and easy setup without long-term commitments. The service is available in the US, UK, Canada, Australia, and Ireland, with an introductory price of $10/month per device for US sellers.