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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 -1.37% 28631.72 Real-time Quote.19.65%
BITCOIN - UNITED STATES DOLLAR -1.34% 34180.93 Real-time Quote.16.49%
SQUARE, INC. 2.28% 244.15 Delayed Quote.12.18%
TWITTER, INC. 2.65% 68.25 Delayed Quote.26.04%
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