![]() ![]() "Millennials and Gen Z's are quite frankly skeptical of traditional forms of credit, that leave people in debt spirals," she said.īlock also acquired Jay-Z's music streaming business Tidal for roughly $300 million last year - at the time a head scratcher for some payment analysts. Despite pushback from consumer watchdogs, Ahuja contended that it's safer than a traditional card because consumers can't take on additional loans if they miss a payment. It spreads out the cost of a larger purchase into four interest-free installments. The lending sector has become popular for consumers and merchants, along with a surge in online shopping. The CFO highlighted the cross-selling opportunity with roughly 6% of its Cash App users also using AfterPay. ![]() "We operate in a large and growing market and are still taking share."īlock closed a $29 billion deal to buy Australian fintech company Afterpay earlier this year as it expands into the installment loan market. "Wall Street analysts are going to want to understand our growth profile, and our margin structure as a company - you can see based on our track record we are outgrowing the rest of the industry," Ahuja said. On the pure-growth side, Cash App now has 46 million monthly active users and 80 million annual actives as of March. Block released updated profit margins Wednesday - an increasingly important metric as investors prioritize the bottom line over growth.Īdjusted profit margins for the Square side of the business last year were 34%, and they were 12% for Cash App, according to the company. Still, Block's CFO, Ahuja said the company is outperforming its peers on profitability. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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