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This statistic highlights Block (Square) Gross Payment Volume, reported on a quarterly basis from Q1 2016 onwards.
Based in San Francisco, Block Inc. (NYSE: SQ) is a merchant service aggregator by creating technology capable of aggregating mobile payments and merchant services into a single, easy-to-use service. Block Inc. is launched by Jim McKelvey and Jack Dorsey in 2009. Around 30 million businesses use this technology to facilitate tracking sales and managing credit card payments. The company’s Square Cash App began allowing merchants to use bitcoin in the technology back in 2017. The company has been traded as a public company on the New York Stock Exchange (NYSE) since November 2015 as a symbol of SQ.
GPV is a crucial revenue source for Block Inc. and an important metric for investors to analyze, as it measures the total amount (in $) of card payments processed by merchants using Square’s system.
The year 2016
In Q1, the company processed $10.3 billion of GPV, an increase of 45% from the first quarter of 2015, mainly driven by ongoing growth in the existing seller base and new sellers added during the quarter. In Q2, Block Inc. processed $12.45 billion in GPV, an increase of 42% from the second quarter of 2015, as the positive dollar-based retention from existing sellers and new-sellers had a meaningful impact. With consistent growth over subsequent quarters, in Q4, the company processed $13.7 billion in GPV, grew by 34% from Q4 FY 2015. For the full year, GPV totaled $50 billion, an increase of 39% from the entire year of 2015.
The year 2017
In Q4, Block Inc. processed $13.6 billion of GPV, which represents an increase of 33% from the first quarter of 2016 and is in line with typical seasonal trends. After substantial growth, the company processed $16.4 billion of GPV in the second quarter of 2017, up by 32% year over year. This is comparable to 33% year-over-year growth in the first quarter of 2017. In Q4, the company processed $17.9 billion of GPV, grew by 31% from Q4 2016. For the full year, GPV totaled $65.3 billion, grew by 32% from the entire year of 2016, and envision a demonstration of the continued ability to drive growth as they scale.
The year 2018
In Q1, the company accounted for $17.8 billion in GPV, up 31% year over year. Same as last year, the company reported the massive growth in the second quarter of $21.4 billion in GPV, up 30% year over year. In Q4, the company processed $23.0 billion in GPV, up by 28% YoY. For the full year, GPV totaled $84.7 billion, grew by 30% from the entire year of 2017.
The year 2019
In the first quarter of 2019, Block Inc. processed $22.6 billion in GPV, up by 27% year over year. With substantial growth in significant segments, In Q2, the company processed $26.8 billion in GPV, up 25% year over year. In the third quarter of 2019, Block Inc. processed $28.2 billion in GPV, while with a slight increase, the company processed $28.6 billion in GPV in Q4, up by 25% YoY. For the full year, GPV totaled $106.2 billion, up by 25% from the entire year of 2018.
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