Fintech looks to be the next big thing. It is incorporating elements from every sector, from hardware (card readers) to software (online payment processing) and now AI in fraud detection.
Payments innovation is all around us, and its importance in digital transformation cannot be overstated. The post-pandemic landscape has seen an acceleration toward a cashless society at a rapid rate.
Block reported better than expected results for Q2, driven by Cash App strength. Cash App segment generated 24% Y/Y growth and Block's adjusted EBITDA is surging. The Fintech is trading at only a 13X P/E ratio and offers a high safety margin to investors.
Even with the stock market's impressive gains, there's no shortage of undervalued stocks if you know where to look. The recent correction has just scratched the surface of the tech sector.
Block is restructuring its business to focus on "three problems" relating to "collaboration, craft, and flexibility." After several years of growing expenses and declining profits, the company aims to streamline its business.
Block, Inc. (NYSE:SQ ) Q2 2024 Earnings Call Transcript August 1, 2024 5:00 PM ET Company Participants Nikhil Dixit - Head of IR Jack Dorsey - Block Head, Square Head, Chairman, and Co-Founder Amrita Ahuja - COO and CFO Conference Call Participants Tien-Tsin Huang - JPMorgan Timothy Chiodo - UBS Darrin Peller - Wolfe Research Ken Suchoski - Autonomous Research Jason Kupferberg - Bank of America...
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