24.3 C
New York
Tuesday, May 17, 2022

Block, Inc. (SQ) Stock on Rise Amid Tumbling Markets, Here’s Why

Block, Inc. (SQ), a company that creates tools to enable sellers to accept card payments, has surged 18.32% in aftermarket trading session. Consequently, the stock is trading at $112.39 at the last check. During Thursday’s regular trading session, the stock gained an increase of 7.13% and closed the day at $94.99. The stock went on a roll in the aftermarket as soon as the company announced financial results for Q4 and FY 2021. The handsome revenue and earnings results could be termed as an ignition for positive movement of the stock. The upward movement of the stock is a positive indicator in the wake of Faltering markets around the globe.

Q4 and FY 2021 Results

On Thursday, SQ announced the results for Q4 2021 and FY 2021. The total net revenue for Q4 2021 stood at $4.08 billion, an increase of 29% on a year-over-year basis. For the full year 2021, the net revenue generated by the company was $17.66 billion, an increase of 86% compared to fiscal 2020. The gross profit for Q4 2021 was $1.18 billion, depicting an increase of 47% on a year-over-year basis. For the full year 2021, the gross profit stood at $4.42 billion, rising 62% compared to fiscal 2020. The net loss suffered during Q4 2021 was $77 million (or $0.17 per share). For the full year 2021, the net income was $166 million (or $0.36 and $0.33 per basic and diluted share respectively).


Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .

Sponsored


Trends for January and February

SQ also announced an update regarding the trends its business could face in the next couple of months. The company expected Square GPV to increase 35% on a year-over-year basis during January and February 2022. The two-year CAGR for January and February is expected to rise by 16%. The cash app gross profits for January and February were expected to increase on a year-over-year as well as two-year CGAR basis.

Comments from Management of SQ

The management of SQ commented that the company has delivered strong growth during Q4 as well as FY 2021. The company continues to move in an upward direction with more and more complex businesses. As the company has built its set of products, the sellers are adopting its products in more and more numbers.

Future Outlook for SQ

Looking ahead, the analysts are of the view that several negative indicators are associated with SQ stock and hence, it is expected to perform weakly in the next couple of months. Investors should keep that in mind while investing in SQ stock.

Related Videos

Latest news

Related news

Related Videos

LEAVE A REPLY

Please enter your comment!
Please enter your name here