Regional Banks

Pathward Fin

Meta/Facebook

Appraisal value

Hot topic

00700

CASH

80700

TCTZF

TCEHY

BLUE

HTCD

These days, it's rare to see trillion-dollar giants fluctuating by 10% or 20% in a single day, but Meta is an exception. It took Meta just one quarter to fall from grace. After the Q3 earnings report, investors' panic seemed to have just been digested. Recently, with the expectation of interest rate cuts rising, $Meta Platforms(META.US) has rebounded 10% from the bottom. In terms of narrative, first, Meta has the most extensive application scenarios, and the AI investment process will be accompanied by accelerated revenue, the &#34;AI darling&#34; narrative; then came the Q3 combination of increased investment and slowed revenue growth guidance...

TENCENT

Meta Platforms

Blue Owl Capital

TENCENT-R

Tencent Holdings Limited

Tencent

Bluebird Bio

Tencent HK SDR 10to1

"AI Darling" Quickly Becomes a "Spendthrift", Can Meta Make a Comeback?

Square/Block

Conference Minutes

ABTC

GBTC

SBET

688688

09988

89988

BABA

KBAB

BABO

BABX

HBBD

NVAWW

Below is the earnings call minutes for Block in 2025Q3 compiled by Dolphin Research. For earnings interpretation, please refer to &#34;Plunged 15%, North America's Alipay Block 'Not That Guilty'&#34;. I. Review of Key Financial Data Full-Year Guidance: Q4 2025 gross profit is expected to increase over 19% year-over-year to $2.755 billion; Q4 adjusted operating profit is projected at $560 million, with an operating profit margin of 20%; full-year gross profit is estimated at $10.243 billion (+15%); full-year adjusted operating profit is anticipated to be $2.056 billion (+28%)...

Block

American Bitcoin

Grayscale Bitcoin Trust BTC - ETF

SharpLink Gaming

ANT GROUP

BABA-W

BABA-WR

Alibaba

KraneShares 2x Long BABA Daily ETF

YieldMax BABA Option Income Strategy ETF

BABA 2x Long Daily ETF - GraniteShares

Nova Minerals

VanEck Short Muni ETF

Ameriprise Financial

Alibaba HK SDR 5to1

NOVA MINERALS LTD C/WT EXP 24/07/2029 (TO PUR ADS)

Block (Minutes): Bitcoin payment feature to be launched soon

Financial Analysis

CRCL

DLPN

On November 7th, after the U.S. stock market closed, Block (XYZ.US), a leading player in the U.S. payment sector, released its financial report for the third quarter of 2025. Overall, the performance this quarter was not poor. The core revenue, excluding Bitcoin trading business, and the adjusted net profit both exceeded expectations. The guidance for the next quarter also basically met expectations, with no significant flaws in the performance. The sharp drop in stock price was more due to macro market reasons. The key points are as follows: 1. Core revenue and profit slightly exceeded expectations: This quarter, Block's core revenue, excluding Bitcoin, grew by 17% year-on-year...

Circle

Dolphin ENT

Wt Inlt L-Cp Dvd

Plummeting 15%, North America's Alipay Block 'not guilty of this'

HOOD

Block 3Q25 Quick Interpretation: Overall, the company's performance this quarter was not bad. Although at first glance, total revenue and GAAP operating profit were below expectations, the former was dragged down by the Bitcoin trading business, which has high revenue but very low profit impact. Core revenue actually exceeded expectations. Similarly, the adjusted operating profit, which is more closely watched by the market and the company, also exceeded expectations. The company's guidance for 4Q, while not particularly outstanding, was generally in line with or slightly better than expectations. Therefore, Dolphin Research believes that the post-earnings plunge was more due to the overall decline in the US stock market. As long as the performance is not perfect and significantly exceeds expectations, the trend is generally downward. As a member of the cryptocurrency/stablecoin concept, the company's elasticity is relatively greater. Similarly, Hood and Circle also experienced similar declines yesterday, despite Hood's strong performance. Specifically: 1) Core revenue, excluding Bitcoin trading, grew by 17% year-on-year this quarter, significantly accelerating from 10% last quarter and better than expected. Adjusted operating profit was $480 million, also better than expected. The downside is that the year-on-year growth rates of revenue, gross profit, and adjusted profit are gradually slowing down, and the company's operating leverage is currently negatively amplifying. 2) In the Square segment, the total payment volume (TPV) grew by 12.2% year-on-year this quarter, accelerating by 2 percentage points from last quarter. The trend is also positive. The downside is that the gross profit of the Square segment grew by 9% year-on-year, which is slower than the TPV growth rate, indicating that the company has not been able to obtain proportional profit from the increased business volume. 3) In the Cash App segment, the gross profit excluding Bitcoin business grew by 25% year-on-year this quarter, accelerating by nearly 10 percentage points from last quarter, also showing strong performance. On the underlying metrics, the number of active users this quarter finally increased to 58 million after staying at 57 million for six quarters. The amount of funds flowing into the app reached $78.8 billion, also setting a new historical high. 4) Although the Bitcoin segment performed poorly despite the industry's recovery, its impact on profit is minimal. $Block(SQ.US)

Robinhood

GROW

Unity 3Q25 Quick Interpretation: The Q3 performance overall slightly exceeded BBG consensus expectations. The market was particularly focused on advertising revenue, which grew by 11% quarter-on-quarter in Q3, and the guidance for Q4 indicates a mid-single-digit quarter-on-quarter growth (around 5%). Although the quarter-on-quarter growth trend did not surpass the previously expected Q4/Q3 growth rate (+7.6% qoq), considering the cautious guidance style of the new management over the past year (actual growth rates generally exceed guidance by 4-5 percentage points), it is still reasonable to expect a near 10% quarter-on-quarter growth similar to Q3. Although the growth rate is not fast enough, especially compared to Applovin, it can slightly alleviate the nearly month-long sentiment suppression caused by poor channel research data in September and October. Specifically: 1. Total revenue of $471 million, a year-on-year growth rate of 5.4%. The company guides Q4 revenue of $480-490 million, a year-on-year growth of 5-7%, slightly exceeding market expectations. (1) Create engine business grew by 3%, quarter-on-quarter -1%, but the guidance for Q4 indicates a high single-digit year-on-year growth, implying a quarter-on-quarter growth rate of 7-8%, finally showing signs of significant improvement (driven by the higher-priced Unity 6). (2) Grow advertising business grew by 6%, significantly exceeding expectations, and the guidance is also positive, with a quarter-on-quarter growth rate of around 5%. The growth was mainly driven by the launch of the Vector model, while other revenue in the Grow business declined year-on-year, so the actual performance of Grow should be even better. Although the quarter-on-quarter growth rate for Q4 guidance has slowed down, it is slightly more positive than the concerns raised by previous research. 2. Profitability improvement, cash flow at a record high: Although the company is currently in a critical transition period, it is not necessary to be too demanding on profits. However, if the company can exceed the loss reduction and profitability targets, it would certainly be better. In Q3, Unity achieved this, with a Non-GAAP EBITDA margin increasing by 3 percentage points quarter-on-quarter. Benefiting from the improvement in the main business, free cash flow reached $150 million, the highest free cash flow in the company's history. $Unity Software(U.US)

Unity Software

U.S. Global Investors

Analyst Switzer Gives Pathward Financial a Moderate Buy Rating

Pathward Fin released FY2025 Q4 earnings on October 21 After-Market EST, actual revenue USD 193.14 M (forecast USD 197.2 M), actual EPS USD 1.6899 (forecast USD 1.39)

Pathward Fin released FY2025 Annual Earnings on October 21 After-Market (EST), actual revenue USD 780.12 M (forecast USD 836.9 M), actual EPS USD 7.8725 (forecast USD 7.58)

Pathward Fin to Release FY2025 Q4 Earnings on October 21 After-Market (EST), Forecast Revenue USD 197.2 M, EPS USD 1.39

Pathward Financial Inc. Delays Quarterly Report Submission

Pathward Financial Inc. CEO Attends Digital Bank Conference

Pathward Fin released FY2025 9 Months earnings on July 28 After-Market (EST), actual revenue USD 580.92 M, actual EPS USD 6.2099

Pathward Fin released FY2025 Q3 earnings on July 28 After-Market EST, actual revenue USD 186.48 M (forecast USD 185.05 M), actual EPS USD 1.8148 (forecast USD 1.67)

Mitafin Reports Q3 Net Income

Pathward Financial Reports Expected 4.7% Quarterly Revenue Growth

Pathward Financial to Report 2025Q2 Earnings, EPS Expected at $1.64

Pathward Fin to Release FY2025 Q3 Earnings on July 28 After-Market (EST), Forecast Revenue USD 185.05 M, EPS USD 1.67

Pathward Financial Expected EPS of $1.64 in Q3 2025

Allspring Increases Stake in Pathward Financial

Pathward Financial Revises Financial Reports Due to Errors

Pathward Financial Named One of the Best Places to Work

Pathward Financial Receives NASDAQ Deficiency Notice for Delayed Quarterly Report Submission

Pathward Financial Announces Dividend of $0.05 Per Share

Pathward CEO Discusses the Future of BaaS

Pathward CEO wins Silver Stevie Award

AdvisorShares MSOS 2x Daily ETF

cbdMD

Tryhard

Roundhill Cannabis ETF

Neo-Concept

Amplify Seymour Cannabis ETF

AdvisorShares Pure US Cannabis ETF

Canopy Growth

RYTHM

Tilray Brands

Truist Financial

SouthState Bank

UMB金融

Old National银行

Cadence

Pinnacle金融

Synovus Financial

Atlantic Union Bankshares

德州资本银行

ServisFirst银行

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