Report
Soomit Datta
EUR 9274.00 For Business Accounts Only

SQ US (Neutral, TP: $70, -5%) Block Q3 24 - Solid quarter, signs of Square GPV revival key to FY 25 success

Block is slowly fixing operational issues at Square which should enable a more balanced 2-sided ecosystem with Cash App. We saw stable GPV growth in Q3 (8% y/y) but better momentum through the quarter and into October (double digit).
Underlying
Square Inc. Class A

Square is a commerce ecosystem that combines software with hardware to enable sellers to turn mobile devices and computing devices into payment and point-of-sale solutions. With the company's offering, a seller can accept payments via magnetic stripe, Europay, MasterCard, and Visa, or Near Field Communication; or online via Square Invoices, Square Virtual Terminal, or the seller's website or app. Also, sellers can gain access to reporting and analytics, next-day settlements, digital receipts, payment dispute and chargeback management, security, and Payment Card Industry compliance. The company's Cash App enable individuals to send and receive money electronically to and from individuals and businesses.

Provider
New Street Research
New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

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Analysts
Soomit Datta

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