Square Stock Soars Over 12% on Blowout Third Quarter3 Report

Square (NYSE: SQ) reported a blowout third quarter on Thursday, posting huge profits, and the stock price jumped over 12% in early trading on Friday.

The mobile payment fintech saw gross profits skyrocket 59% to $794 million and revenue jump 140% to $3 billion.

In the seller ecosystem -- which helps merchants with processing payments, managing payroll, and other tasks -- revenue was up 5% to $965 million year over year, while gross profits were up 12% year over year to $409 million. The gains were led by 46% growth in markets outside the U.S., which accounted for 11% of overall seller ecosystem growth.

Source Fool.com