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Square CEO Jack Dorsey Says Co Is Focused On Bitcoin- Conf Call

05/06/2021 | 06:00pm EDT

May 6 (Reuters) - Square Inc:

* SQUARE INC CFO- WE EXPECT GROSS PROFIT FOR SELLER ECOSYSTEM TO GROW BY MORE THAN 135% YOY AND CASH APP BY ABOUT 130% YEAR-OVER-YEAR IN APRIL-CONF CALL

* SQUARE CFO- EXPECT Y-O-Y GROSS PROFIT GROWTH RATE TO MODERATE FROM APRIL THROUGH Q2 AS GROWTH COMPARISONS GET TOUGHER IN MAY, JUNE-CONF CALL

* SQUARE CFO- FOR CASH APP CUSTOMERS HAD GREATER SPENDING POWER FROM GOVERNMENT FUNDS WHICH DROVE AN UPLIFT IN INFLOWS IN MARCH

* SQUARE CFO- FOR CASH APP HAVE SINCE SEEN A NORMALIZATION WITH INFLOWS DOWN 16% IN APRIL COMPARED TO MARCH

* SQUARE CFO- NOW EXPECT TO INVEST $1 BILLION TO $1.1 BILLION IN NON-GAAP OPERATING EXPENSES, EXCLUDING RISK LOSS IN 2021

* SQUARE CEO JACK DORSEY SAYS "WE DO THINK THAT BITCOIN IS THE IMPORTANT 1 TO FOCUS ON, AND IT'S WHAT WE ARE FOCUSED ON"- CONF CALL Further company coverage:


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN - EURO 8.87% 32514.9 Real-time Quote.26.53%
BITCOIN - UNITED STATES DOLLAR 8.72% 38331 Real-time Quote.21.95%
SQUARE, INC. 1.31% 264 Delayed Quote.21.30%
TWITTER, INC. 3.05% 71.69 Delayed Quote.32.39%
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