All things considered, Square (NYSE: SQ) has shown strong results in 2020. The company has managed to retain and grow its gross payment volume slightly on the Seller side of the business. Meanwhile, Cash App has seen strong adoption in 2020 along with monetization improvements, leading to gross profit more than tripling in the third quarter.
But Square thinks there's a lot of room to grow both sides of the business and capitalize on the momentum it's building as we head into 2021. CFO Amrita Ahuja plans to invest $800 million to $850 million in incremental operating expenses next year. Here's how she expects to break down the budget.