Square, Inc. (NYSE: SQ) announced 2021 Q2 financial results on August 1st. According to the announcement, total revenue and adjusted EBITDA were up 142.2% and 267.4%, respectively (YoY, 3 months). In addition, operating income was 125 million USD. Its net income was 204 million USD. In 2020 Q2, Square had recorded operating loss and net loss.
Reviewing the revenue growth by segments, transaction-based revenue was up 79.8% (YoY, 3 months). In addition, subscription and service-based revenue was up 97.9%. The largest Bitcoin revenue was up 143.3%.
Square’s net loss in 2020 Q2 was mainly due to recording the larger amount of provisions of transaction and loan losses. The steady growth of adjusted EBITDA shows soundness of Square’s business performance.
Square has expanded the service of Square Capital to launch the Square Banking. In addition, Square has also expanded parts of its business to Australia, Canada, Ireland, etc.
- Watanabe & Brothers’ Investment is holding shares of Square, Inc.
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