Economy

Square Inc Q3 2017 Earnings Results Sink Shares

Square Inc Q3 2017 Earnings Results Sink Shares”

That San Francisco-based company's loss narrowed to $16.1 million, or 4 cents per share, from $32.3 million, or 9 cents per share, a year earlier. Earnings per share excluding some items are expected to be 24 cents to 25 cents, up from an earlier forecast of as much as 23 cents.

The Square Q3 2017 earnings results were released after closing bell tonight, and the company posted adjusted earnings of 7 cents per share on $257 million in adjusted revenue and $585 million in total net revenue.

Square reported quarterly earnings and revenue that beat analysts' expectations on Wednesday. Total net revenue hit $585 million growing 33% versus year prior. GPV from larger sellers, defined by Square as merchants generating more than $125,000 in annualized revenue, grew 44 percent year over year, attributing 48 percent of GPV for the quarter. The StreetAccount consensus for gross payment volume stood at $17.03 billion.

Gross payment volume (GPV) continued to be a critical metric for the young mobile payments company. Subscription and services-based revenue, which includes the company's lending service Square Capital and food delivery business Caviar, was $65 million, up 84 percent from the third quarter of 2016.

Analysts on average had expected a profit of 5 cents per share on revenue of $245 million, according to Thomson Reuters I/B/E/S. Adjusted revenue is slated to be between $963 million to $966 million, ahead from the previous outlook of $925 million to $935 million.

Square shares have more than doubled since the beginning of the year. He added that these numbers are year-to-date increases of 178% and 595%, respectively, and yet, just 13.4% of the float is being borrowed.

The stock traded recently at $35.80, down 2.48 percent.



Like this

Latest


09 November 2017
Tia Mowry-Hardrict Is Pregnant With Her Second Child
Now, the actress can't wait to welcome the fourth member of her family, as she captioned the post with four hearts for each family member.

09 November 2017
Former Yahoo CEO says no company or agency immune from hacks
Yahoo only learned about the hack last November, when United States law enforcement presented the company with the stolen information, Mayer said.

09 November 2017
Kayak killer gets up to four years in prison for fiancé's death
The Poughkeepsie Journal reported that Angelika Graswald , 37, has been jailed since April 30, 2015, and will be given time served.

08 November 2017
Puigdemont se entrega a la policía en Bélgica
La Fiscalía española acusa a Puigdemont y a los miembros de su gobierno de los delitos de rebelión , sedición y malversación de fondos públicos.

08 November 2017
Match Group, Inc. (NASDAQ:MTCH) Sees Unusual Volume Mid-Session
Dynamic Technology Lab Private Ltd bought a new position in Match Group during the third quarter valued at approximately $778,000. Based on a recent bid, the stock is trading 12.27% away from it's 52- week high and 103.79% away from its 52 week low.

08 November 2017
Falling US Stockpiles Offset Rise in Crude Stocks
Crude oil stockpiles recovered last week as very large drops in product stockpiles were offset by a collapse in net imports. Meanwhile, imports declined by 194,000 b/d versus the prior week to an average of about 7.4m barrels per day.

08 November 2017
How IUDs Go Beyond Birth Control to Possibly Prevent Cervical Cancer
The global cervical cancer therapies and diagnostics market is segmented into diagnostics tests, therapies, end user, and region. Unfortunately, HPV is so widespread that many contract the virus as soon as they initiate sexual activity, Cortessis continued.

08 November 2017
2018 iPad Coming With Face ID, No Home Button Or OLED Screen
Bloomberg said a different model will, meaning it might not carry the "iPad Pro" moniker. They asked not to be identified talking about private product development.

08 November 2017
Barcelona midfielder Rafinha on Arsenal radar to replace Ozil
But according to The Sun , Ozil will only sign a new deal if Jack Wilshere gives up the number 10 shirt. The midfielder has been at the club since the age of 9 and has outperformed Ozil this season.

08 November 2017
Al Horford evaluated for concussion, won't play vs. Lakers
While Horford is hot from long range, the Celtics are hot in general, entering Wednesday on a nine-game winning streak. His timetable for a return is unclear, though, as the team plans to monitor him as he progresses through the protocol.