Block (Square) $SQ earnings - BTC Saved the Day (Patreon)

Earnings were good but outlook not so good. If it was not for Bitcoin earnings would be really bad. 

Updated guidance disappoints hence down in after hours

Earnings TLDR

• Earnings per share: 39 cents per share on an adjusted basis, up 116% from the year-earlier period. Analysts had projected earnings of 36 cents a share.
• Net revenue: $5.53 billion, including Cash App transactions for digital cryptocurrency Bitcoin. SQ stock analysts had predicted revenue of $5.1 billion.
• Gross profit for Cash App: $968 million versus estimates of $935 million.
• EBITDA: $384 million, handily beating estimates of $297 million.
• Full-year EBITDA forecast: $1.5 billion, including the $87 million beat in the first quarter. Analysts had called for full-year EBITDA of $1.36 billion.
• Gross payment volume from merchant customers: $54.2 billion, just below estimates of $54.5 billion.