Here's Why Square Stock Is Rising Today
Square's (NYSE: SQ) share price continued to move upward Thursday -- by 3.2% as of 11:53 a.m. EDT -- in the wake of the company's second-quarter report. The results were leaked a day ahead of schedule, which led the company to publish them officially late on Tuesday; that sent its share price skyrocketing Wednesday. The strong report also resulted in several analysts raising their price targets for Square's stock Thursday.
The market is apparently still excited about Square's results. Revenue increased 64% year over year to $1.92 billion. But it was the company's earnings beat that really impressed investors. Square reported non-GAAP earnings of $0.18 in the quarter, markedly better than the 0.05 per share loss analysts had expected.
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Source Fool.com
