Perspective on Key Events Perspective on Key Events
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Joel Van Arsdale and Pedro Giesta • 8 November, 2023

Square's International Expansion

General Commentary & Highlights

  • While Block works to fix its corporate challenges including a recently announced and much-needed expense reduction program, Square continues to demonstrate steady (though not spectacular) progress in the organic international expansion of its core merchant products, which achieved $380M of annualized gross profit in the most recent quarter.
  • Square becoming more visible in key European markets, including UK, FR, and ES, though not yet disruptive (small market share in each of these markets).
  • AfterPay results less impressive, achieving 22% YOY gross profit growth as credit conditions worsen.
  • International FTE now comprise c. 27% of total company FTE (25% YE ’22). The company currently 96 open LinkedIn job positions, with 46% of them being international. Squares International Expansion ImagePlease do not hesitate to contact Joel van Arsdale at or Pedro Giesta at with comments or questions.