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) 宣佈，其消費者支付平台 Cash App 將於 9 月 15 日停止在英國的運營，這是其在英國推出六年後的決定。
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.
該平台以其移動支付功能而聞名，2018 年在英國推出時是該公司的第一個國際市場。Block 的股票在週四交易低點。
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.
公司網站引用了彭博社的消息稱："在最近幾個月的時間裏，我們對 Cash App 的策略方法進行了概述，該策略將重點放在美國，並降低了對全球擴張的重視。我們所有的業務都不受這個決定的影響。"
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 於 2013 年推出，已成爲由 Jack Dorsey 領導的金融科技公司 Block 的著名部分。然而，隨着 PayPal Holdings Inc（NASDAQ:PYPL）的 Venmo 和以銀行爲中心的 Zelle 的崛起，點對點付款市場變得更加競爭。
This decision follows NBC's February report that US financial regulators investigated Cash App after whistleblowers claimed it had conducted inadequate customer due diligence.
這個決定是在 NBC 二月份的報告之後作出的，報告稱美國金融監管機構在舉報人聲稱 Cash App 進行的客戶盡職調查不足之後進行了調查。
BofA Securities analyst Jason Kupferberg reiterated a Buy rating on Block with a price target of $82.
BofA Securities 分析師 Jason Kupferberg 給 Block 給出了買入的評級，並給出了 82 美元的目標價。
Block reports second-quarter results on August 1. Kupferberg noted that consensus second-quarter estimates are well-calibrated.
Block 將於 8 月 1 日公佈第二季度業績。Kupferberg 指出，第二季度的預測是很準確的。
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，分析師指出，Square GPV 增長的逐步重新加速，特別是在美國，仍然是該股票最重要的驅動力。
This would help allay concerns regarding competition and affirm CEO Dorsey's strategy while lending support to out-year Square forecasts.
這將有助於緩解與競爭相關的疑慮，並證實首席執行官多爾西的策略，同時支持未來的 Square 預測。
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 和街頭交易者對第二季度進行了 9% 的 Square GPV 增長的建模，這與第一季度相比穩定，但是根據高頻數據，投資者預計在這個指標上可能會有一些失誤。Kupferberg 說，考慮到股價在過去一個月上漲了 15%，這可能會限制第二季度成爲積極因素的潛力。
The analyst recognized concerns around U.S. GPV growth and SMB but noted they have been over-discounted.
分析師認爲，人們擔心美國 GPV 增速和 SMb，但指出已經過度折扣。
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 更加關注盈利能力，這使得投資者現在可以根據調整後的經營收益和/或 GAAP 每股收益評估該股票的價值，這將有助於支撐股價。
Kupferberg noted Block is undervalued, and its high-quality business model is underappreciated.
Kupferberg 指出 Block 被低估了，其高質量的商業模式未得到充分重視。
The analyst projected 2024 revenue and EPS of $24.35 billion and $3.02.
分析師預計 2024 年的營業收入爲 243.5 億美元，每股收益爲 3.02 美元。
Price Action: SQ shares are down 5.32% at $68.0. at the last check on Thursday.
股票價格變動：SQ 股票在週四最新報價爲 68.0 美元，下跌了 5.32%。
Photo by Sergei Elagin courtesy: Shutterstock
照片由Shutterstock的Sergei Elagin提供。