5 Must-Watch Quarterly Reports

2. Square, Inc. (NYSE:SQ)

Number of Hedge Fund Holders: 94

Shares of Square, Inc. (NYSE:SQ) fell more than four percent on Friday, 5 November 2021, after announcing disappointing profit and sales for the third quarter. The San Francisco-based payments company blamed lower bitcoin revenue for the weak results.

Square, Inc. (NYSE:SQ) reported adjusted earnings of 37 cents per share, slightly below the consensus forecast of 38 cents per share. Total quarterly revenue of $3.84 billion also missed the consensus forecast of $4.39 billion. The company had reported adjusted earnings of 34 cents per share on revenue of $3.03 billion for the comparable period of 2020.

Looking at the key growth indicators, bitcoin revenue increased to $1.82 billion versus $1.63 billion in the year-ago quarter. In comparison, transaction-based revenue came in at $1.3 billion versus $925 million in the same period last year. Analysts were expecting Square, Inc. (NYSE:SQ) to report transaction-based revenue of $1.29 billion and bitcoin revenue of  $2.56 billion.