Square(SQ, $223.99) crushes Q1 earnings expectations
Square shares climbed in after-market trading Thursday, following after the company posted earnings beat for the first quarter.
The digital payments company’s adjusted earnings per share came in at 41 cents, handily topping the 16 cents expected in a Refinitiv survey of analysts.
Revenue soared almost four times in the quarter to $5.057 billion, compared to $3.36 billion expected by Refinitiv.
Gross profit climbed +79% year over year to $964 million in the quarter that ended Mar. 31. Cash App gross profit surged +171% from the year-ago quarter to $495 million.
Square generated $3.5 billion in bitcoin revenue, up 11 times year over year. But bitcoin gross profit was $75 million, or approximately 2% of revenue.
Looking ahead, Square estimates gross profit to grow by more than 135% year over year for its seller ecosystem and by approximately 130% year over year for its Cash App, in April. The company expects year-over-year gross profit growth rates to moderate from April to the remainder of the second quarter, on tougher growth comparisons in May and June.
SQ's RSI Oscillator slumps oversold zone
The RSI Oscillator for SQ moved into overbought territory on July 26, 2024. Be on the watch for a price drop or consolidation in the future -- when this happens, think about selling the stock or exploring put options.
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Notable companies
The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), Oracle Corp (NYSE:ORCL), Salesforce (NYSE:CRM), Adobe (NASDAQ:ADBE), Intuit (NASDAQ:INTU), Uber Technologies (NYSE:UBER), SERVICENOW (NYSE:NOW), Shopify (NYSE:SHOP), Palo Alto Networks (NASDAQ:PANW), CrowdStrike Holdings (NASDAQ:CRWD).
Industry description
Packaged software comprises multiple software programs bundled together and sold as a group. For example, Microsoft Office includes multiple applications such as Excel, Word, and PowerPoint. In some cases, buying a bundled product is cheaper than purchasing each item individually[s20] . Microsoft Corporation, Oracle Corp. and Adobe are some major American packaged software makers.
Market Cap
The average market capitalization across the Packaged Software Industry is 10.66B. The market cap for tickers in the group ranges from 291 to 3.15T. MSFT holds the highest valuation in this group at 3.15T. The lowest valued company is BLGI at 291.
High and low price notable news
The average weekly price growth across all stocks in the Packaged Software Industry was 2%. For the same Industry, the average monthly price growth was 4%, and the average quarterly price growth was 4%. CMAX experienced the highest price growth at 220%, while NXTT experienced the biggest fall at -64%.
Volume
The average weekly volume growth across all stocks in the Packaged Software Industry was -6%. For the same stocks of the Industry, the average monthly volume growth was 10% and the average quarterly volume growth was 20%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 52
P/E Growth Rating: 74
Price Growth Rating: 58
SMR Rating: 82
Profit Risk Rating: 89
Seasonality Score: 1 (-100 ... +100)