Block's Cash App to Exit UK Market, Stock Drops
Block's Cash App to Exit UK Market, Stock Drops
Block Inc (NYSE:SQ) announced that its consumer-payments platform, Cash App, will cease operations in the U.K. on September 15, six years after launching there.
Block Inc (NYSE:SQ) 宣布，其消费者支付平台 Cash App 将于 9 月 15 日停止在英国的运营，这是其在英国推出六年后的决定。
The platform, known for its mobile money transfers, was the company's first international market when it debuted in 2018. Block's stock is trading lower on Thursday.
该平台以其移动支付功能而闻名，2018 年在英国推出时是该公司的第一个国际市场。Block 的股票在周四交易低点。
The company website quoted, "In recent months, we have outlined our strategic approach for Cash App, which prioritizes our focus on the United States and deprioritizes global expansion. All of our operations remain unaffected by this decision," Bloomberg reports.
公司网站引用了彭博社的消息称："在最近几个月的时间里，我们对 Cash App 的策略方法进行了概述，该策略将重点放在美国，并降低了对全球扩张的重视。我们所有的业务都不受这个决定的影响。"
Cash App, launched in 2013, has become a well-known part of Block, the fintech company led by Jack Dorsey. However, the peer-to-peer payments market has grown more competitive with the rise of PayPal Holdings Inc's (NASDAQ:PYPL) Venmo and bank-focused Zelle.
Cash App 于 2013 年推出，已成为由 Jack Dorsey 领导的金融科技公司 Block 的著名部分。然而，随着 PayPal Holdings Inc（NASDAQ:PYPL）的 Venmo 和以银行为中心的 Zelle 的崛起，点对点付款市场变得更加竞争。
This decision follows NBC's February report that US financial regulators investigated Cash App after whistleblowers claimed it had conducted inadequate customer due diligence.
这个决定是在 NBC 二月份的报告之后作出的，报告称美国金融监管机构在举报人声称 Cash App 进行的客户尽职调查不足之后进行了调查。
BofA Securities analyst Jason Kupferberg reiterated a Buy rating on Block with a price target of $82.
BofA Securities 分析师 Jason Kupferberg 给 Block 给出了买入的评级，并给出了 82 美元的目标价。
Block reports second-quarter results on August 1. Kupferberg noted that consensus second-quarter estimates are well-calibrated.
Block 将于 8 月 1 日公布第二季度财报。Kupferberg 指出，第二季度的预测是很准确的。
However, the analyst noted that gradual re-acceleration in Square GPV growth, especially in the US, remains the most important driver of the stock.
然而，分析师指出，Square GPV 增长的逐步重新加速，特别是在美国，仍然是该股票最重要的驱动力。
This would help allay concerns regarding competition and affirm CEO Dorsey's strategy while lending support to out-year Square forecasts.
这将有助于缓解与竞争相关的疑虑，并证实首席执行官多尔西的策略，同时支持未来的 Square 预测。
Kupferberg and the Street modeled 9% Square GPV growth for the second quarter, which was steady compared to the first quarter, but noted investors are braced for a modest miss on this metric based on high-frequency data. Given that shares are up 15% in the last month, this could limit the potential for the second quarter to be a positive catalyst, Kupferberg said.
Kupferberg 和街头交易者对第二季度进行了 9% 的 Square GPV 增长的建模，这与第一季度相比稳定，但是根据高频数据，投资者预计在这个指标上可能会有一些失误。Kupferberg 说，考虑到股价在过去一个月上涨了 15%，这可能会限制第二季度成为积极因素的潜力。
The analyst recognized concerns around U.S. GPV growth and SMB but noted they have been over-discounted.
分析师认为，人们担心美国 GPV 增速和 SMb，但指出已经过度折扣。
Block's increased focus on profitability now enables investors to value the stock on adjusted operating income and/or GAAP EPS, which should help put a floor in shares, the analyst said.
Block 更加关注盈利能力，这使得投资者现在可以根据调整后的经营收益和/或 GAAP 每股收益评估该股票的价值，这将有助于支撑股价。
Kupferberg noted Block is undervalued, and its high-quality business model is underappreciated.
Kupferberg 指出 Block 被低估了，其高质量的商业模式未得到充分重视。
The analyst projected 2024 revenue and EPS of $24.35 billion and $3.02.
分析师预计 2024 年的营业收入为 243.5 亿美元，每股收益为 3.02 美元。
Price Action: SQ shares are down 5.32% at $68.0. at the last check on Thursday.
股票价格变动：SQ 股票在周四最新报价为 68.0 美元，下跌了 5.32%。
Photo by Sergei Elagin courtesy: Shutterstock
照片由Shutterstock的Sergei Elagin提供。