targets as per chart to Fibonacci levels of confluence.
Much depends on the market remaining strong
Earnings Details
Square (NYSE:SQ) Q3 adjusted EPS of 34 cents beats the average analyst estimate of 16 cents and increased from 25 cents in the year-ago quarter.
Q3 total net revenue of $3.03B and far surpassed the $2.08B consensus; surged from $1.92B in Q2 and $1.27B in the year-ago quarter.
Square surges 7.7% in after-hours trading.
Q3 adjusted EBITDA of $181M increased from $98M in Q2 and $131M in Q3 2019.
Q3 Cash App ecosystem gross profit jumped 212% Y/Y for $385M; Cash App revenue of $2.07B rose 574% Y/Y; excluding bitcoin, Cash App revenue was $435M, up 174% Y/Y.
Q3 Seller gross profit rose 12% Y/Y.
Seller gross payment volume of $31.7B increased from $22.8B in Q2 and $28.2B in the year-ago quarter.
In markets outside the U.S. the Seller gross payment volume increased 46% Y/Y and represented 11% of total Seller GPV.
Looking at its operations in October, Square reports Seller exhibited positive revenue and gross profit growth Y/Y; Seller GPV was up 8% Y/Y, improving modestly from Q3 Y/Y growth.
Cash App revenue and gross profit showed strong growth in October, but gross profit growth in the month moderated vs. Q33 growth, driven by a decrease in transaction volume per active customer.