Analysts see lending as a key driver of future monetization, with some pointing to additional revenue opportunities in merchant services and advertising within Cash App. The unit recorded $1.38 billion in gross profit, a 16% year-over-year increase, exceeding the $1.36 billion average analyst estimate, according to StreetAccount.
Dorsey also articulated the long-term vision of integrating Cash App and Square into a single financial ecosystem, reducing the need for users to rely on multiple apps.
"There will be a significant reason to use Cash App and not have to go to the App Store for 10 different apps," he said. "Everything is in one app, and that will be the Cash App."