Ann: Q3 FY21 Business Update, page-70

As I understand it you consider yourself smart. Is there a particular reason why you are focusing so hard on QoQ, a metric that doesn't take into account seasonality when most analysts and pretty much every company compares to previous corresponding period to account for seasonality?

Also, you're not really taking into consideration that last year's performance could have been extraordinary, instead of this year being underwhelming. Nor is there any consideration given that the outperformance of Afterpay in Q3Y20 over Q2Y19 could have been due to an underwhelming Q2 rather than an overwhelming Q3?

All of this is noise anyway. At the end of the day, a 9% decline in sales in the smallest shopping period of the year when compared to the biggest is not going to cause me (and I presume most other investors) any concerns.