Square Earnings Show Why the Stock Is Up 163% in a Year
Payment processing company Square (NYSE: SQ) announced its second-quarter earnings on Aug. 2, and beat analysts' expectations on both the top and bottom lines. In addition, Square reported impressive growth, not just in the core payment processing business, but in several other promising areas as well. Here's a rundown of the numbers, and where Square could go from here.
Square generated $552 million in revenue versus expectations of $536.3 million, and on the bottom line, the company posted a loss of $0.04 per share, compared to analysts' estimates for a $0.05-per-share loss. During the quarter, Square saw $16.4 billion in gross payment volume, significantly higher than the estimates that called for $16.02 billion.
Along with the strong results, Square increased its full-year revenue and EPS guidance, now expecting revenue that's about 3.3% better than the previous guidance range, and earnings per share that are 22% higher, both based on the midpoints of the previous ranges.
Source: Fool.com
Square Inc. Stock
Square Inc. is currently one of the favorites of our community with 6 Buy predictions and no Sell predictions.
With a target price of 85 € there is a positive potential of 42.16% for Square Inc. compared to the current price of 59.79 €.
