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Square stock soars after massive earnings beat helped by Cash App

first_img– Advertisement – Shares of Square surged 13% on Friday after blowing past Wall Street’s expectations for the quarter a day earlier.The San Francisco-based payments company reported a 140% increase in net revenue to $3.03 billion in the third quarter. Adjusted earnings came in at 34 cents, more than double what analysts polled by Refinitiv expected.The Square Cash app was a key driver of the strong results, and of analysts’ enthusiasm. The payments and banking app more than tripled its gross profits from a year ago, and made up almost half of the company’s total gross profit of $794 million.- Advertisement – The app began as a peer-to-peer payment option, similar to PayPal’s Venmo. But Square has since launched multiple bank-like products that piggyback on the app, including cryptocurrency and stock trading, that have driven stronger unit economics and profitability than Venmo. The results were a hit among multiple Wall Street analysts who recommended the stock to clients on Friday. Citi, Cannacord Genuity, Needham, Mizuho and Susquehanna upgraded price targets on Square after the break-out quarter. In a note to clients, Citi analyst Peter Christiansen called Square’s growth opportunity “too big to ignore.”Lisa Ellis of Moffett Nathanson maintained her “buy” rating on Square but increased earnings estimates through 2021. Despite the stock’s run-up this year and “rather elevated investor expectations,” the company managed to “beat by a mile,” Ellis said in a note to clients.- Advertisement – Guggenheim’s Jeff Cantwell highlighted potential for Square to mimic the success of China’s Alipay, writing that “Square should build Cash App into a super app.” Dan Dolev of Mizuho pointed to growth in the Cash App’s brokerage feature, and said the app showed it “can also be Robinhood,” referring to the popular free-trading app.The boom in Cash App offset relatively slower growth in Square’s core seller business that provides in-person payments at brick and mortar locations, such as coffee shops. Small businesses who rely on Square’s payment terminals have been hit especially hard during the pandemic. But the seller business sustained “its remarkable rebound,” Moffett Nathanson’s Ellis said, with gross profits up 12% from the year-ago quarter.The stock is up 217% year to date, and has gained 28% in the past week alone.center_img Twitter and Square CEO Jack Dorsey speaks during a press event at CES 2019 on January 9, 2019 in Las Vegas, Nevada.David Becker | Getty Images News | Getty Images – Advertisement –last_img read more

DDTV: JIM McGUINNESS APPEARS IN SUICIDE AWARENESS VIDEO

first_imgJim McGuinness (Donegal Manager), Alan Quinlan (former Irish International Rugby player), Finian Hanley (Galway GAA Captain), Adrian Logan (BBC sport presenter), Kevin Keane (Mayo GAA Team player and IT Sligo Student), and FAI International Young Player of the Year 2013 and IT Sligo Student, Emma Hansberry, are amongst a group of sport starts featured on a new video about suicide awareness produced by three IT Sligo students.The video was launched today at IT Sligo by Armagh GAA player Oisin McConville.Given that Ireland has one of the highest rates of suicide amongst young males in Europe, the students focused their message at this group and sought out some of Ireland’s top sporting starts to encourage those at risk to talk to someone close to them.Thought provokingly called ‘Who Would You Tell?’ the video was produced by Stephen Doak (Creeslough, Donegal), David Mackin (Dundalk) and Stephen Sullivan (Coole, Westmeath) as part of their final year project in the BSc in Public Health and Health Promotion at IT Sligo. If he was feeling suicidal, Donegal GAA Team Manager Jim McGuinness says he would tell ‘a family member of a friend’; Connacht Rugby Player John Muldoon says he would tell his girlfriend; Galway GAA Captain Finian Hanley said he would tell his parents and his girlfriend; and Mayo GAA player Kevin Keane would tell his parents and his girlfriend.“There is such a taboo around suicide and that’s what we wanted to tackle in this video,” said student Stephen Sullivan. “People who feel suicidal feel they can’t talk about it, and those who are worried about friends are afraid to broach the subject with them. But talking is the best medicine and that’s what we are trying to promote in this video.”Jim McGuinness encourages people to speak out about their problems on the video; “My own community has been devastated by it in the last number of years, old and young,” he says. “It’s something that just stops you in your tracks. You wish that you could do something, or that you could have known or helped by the reality is sometimes you don’t and that’s why it’s so important that if you’re any way down or carrying anything, or if you feel depressed, to try to seek people out. Don’t carry it yourself, try and move forward with the help and support of other people. That’s the key thing,” he said.Rugby player Alan Quinlan echoes these sentiments; “There’s no doubt about it that people tend to sweep their problems under the carpet and not open up. But they escalate and get worse and times does on. There is no shame in speaking out and opening up to someone,” he says.John Muldoon says suicide is ‘crippling society; “Don’t be macho. Don’t be afraid. Don’t think that people will think less of you…if you’re in a bad place, talk to someone,” he said.Mental Health Promotion/Suicide Resource Officer with HSE West Mike Rainsford, is also quoted on the video. “There is an invisible barrier associated with suicide,” he said. “Those feeling suicidal don’t want to burden people by talking about it and their friends and family don’t know how to raise it with them. The only way we can help is to communicate to each other, to our friends or with support services. A problem shared really is a problem halved, so the very simple message about communication underpinning this video is very important.”The BSc in Public Health and Health Promotion at IT Sligo is an innovative and practically-driven degree programme which equips students with a variety of skills to promote health amongst specialised and applied health areas and populations. Lecturer Maire McCallion said practical projects are a core part of the programme; “The students have received tremendous support from the sporting community in this project,” she said.” Videos are powerful communication and promotional tools and the students are hoping that this video will be used by schools and sporting and community groups to promote suicide awareness and the importance of mental health.” For more information see www.itsligo.ieThose who are affected by suicide or suicidal thoughts should contact their GP. Other sources of support also include the Samaritans 1850 609090, 1Life 1800 24 7 100 and Stop suicide 1850 211 877. DDTV: JIM McGUINNESS APPEARS IN SUICIDE AWARENESS VIDEO was last modified: February 27th, 2013 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:DDTV: JIM McGUINNESS APPEARS IN SUICIDE AWARENESS VIDEOlast_img read more