$SQ (+3.97%) - Block Q2 Earnings Highlights:
- Adjusted EPS: USD 0.93 (estimated USD 0.85)
- Adjusted EBITDA: USD 759 million (estimated USD 685.7 million); increase of +97% compared to the previous year
- Net sales: USD 6.16 billion (estimated USD 6.31 billion)
Sales breakdown:
- Transaction-based revenue: USD 1.71 billion (estimated USD 1.76 billion)
- Subscription and service-based revenue: 1.79 billion US dollars (estimated 1.75 billion US dollars)
- Hardware revenue: 43 million US dollars (estimated 39.3 million US dollars)
- Bitcoin revenue: 2.61 billion US dollars (estimated 2.73 billion US dollars)
- Cash App: 4.13 billion US dollars (estimated 4 $. 2B)
- Revenue in the square segment: 1.98 billion US dollars (estimated 2.01 billion US dollars)
- Corporate and other revenue: $47 billion (estimated $54.2 billion)
- Gross profit: $2.23 billion (estimated $2.19 billion)
Annual forecast:
- Adjusted EBITDA: USD 2.90 billion (previously USD 2.76 billion; estimated USD 2.8 billion)
- Adjusted operating income: USD 1.44 billion (previously USD 1.3 billion; estimated USD 1.34 billion)
- Block announces an additional share buyback program of up to USD 3 billion
Guidance for the third quarter:
- Gross profit: USD 2.22 billion (estimated USD 2.22 billion)
- Adjusted EBITDA: USD 695 million (estimated USD 669.5 million)
- Adjusted operating result: USD 320 million (estimated USD 311.3 million)