Earnings Call Summary | Block(SQ.US) Q1 2024 Earnings Conference
Earnings Call Summary | Block(SQ.US) Q1 2024 Earnings Conference
The following is a summary of the Block, Inc. (SQ) Q1 2024 Earnings Call Transcript:
以下是 Block, Inc. (SQ) 2024 年第一季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Block reported a Gross profit of $2.09 billion for Q1 2024, a 22% increase year-over-year.
Adjusted EBITDA for the quarter was $705 million, showing a significant rise compared to the previous year.
Cash App's gross profit stood at $1.26 billion (up 25% YoY), and Square's gross profit was $820 million (up 19% YoY).
The rise in profitability is attributed to a stricter control over expenses.
Block has affirmed its forecast for 2024, expecting gross profit to reach $8.78 billion, representing a 17% YoY growth.
The guidance for 2024's adjusted operating income has been raised to $1.3 billion.
Block报告称，2024年第一季度毛利为20.9亿美元，同比增长22％。
本季度调整后的息税折旧摊销前利润为7.05亿美元，与去年同期相比大幅增长。
Cash App的毛利为12.6亿美元（同比增长25％），Square的毛利为8.2亿美元（同比增长19％）。
盈利能力的提高归因于对开支的更严格控制。
Block确认了其对2024年的预测，预计毛利将达到87.8亿美元，同比增长17％。
2024年调整后营业收入的预期已提高至13亿美元。
Business Progress:
业务进展：
Block's strategy revolves around 'banking their base' with a focus on direct deposits.
To boost conversion rates, the company is testing various incentives and is working on delivering appealing offerings that outshine those of conventional banks.
Upcoming product launches, including the integration of Afterpay with the Cash App Card, are expected to propel growth in the later part of 2024 and beyond.
Block reported strong growth with its "Borrow" product with more than two folds increase in originations YoY.
To leverage its financial services and software products strengths, the company is exploring product verticals like food and beverages, beauty salons, and more.
There is increased attention on foreign markets after seeing a 38% YoY gross profit increase outside the U.S. with successful loan launches in Japan.
The company is strategizing new onboarding flows and contract renewals to ensure a consistent growth trajectory.
Block 的策略围绕着 “为他们的基础存款” 展开，重点是直接存款。
为了提高转化率，该公司正在测试各种激励措施，并正在努力提供比传统银行更具吸引力的产品。
即将推出的产品，包括Afterpay与Cash App Card的整合，预计将推动2024年下半年及以后的增长。
Block报告称，其 “借款” 产品实现强劲增长，发放量同比增长了两倍以上。
为了利用其金融服务和软件产品的优势，该公司正在探索食品和饮料、美容院等垂直产品领域。
随着日本成功推出贷款，美国以外的毛利同比增长了38％，此后，人们对国外市场的关注度越来越高。
该公司正在制定新的入职流程和续订合同的战略，以确保稳定的增长轨迹。
More details: Block IR
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