Block : Q2 2022 above expectations, Q3 outlook slightly disappointing but offset by significant cost savings in 2022
>Q2 2022 EBITDA beat - After the close yesterday, Block reported Q2 2022 results that were higher than expected. Gross profit came to $ 1,470m (consensus $ 1,441m) up 29% y-o-y and +14% q-o-q. By segment, Square Seller (services to merchants) generated gross profit of $ 755m (cons. $ 748m) and Cash App (services to consumers) $ 705m (cons. € 693m). GPV reached $ 52bn, up +23% y-o-y. Adjusted EBITDA amounted to $ 187m (EBITDA/gross profit ratio of 12.7%), ahead of expe...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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