{"id":5154,"date":"2017-05-03T21:32:49","date_gmt":"2017-05-03T21:32:49","guid":{"rendered":"https:\/\/www.rsoftsolution.com\/blog\/square-up-7-after-surpassing-quarterly-expectations.html"},"modified":"2017-05-03T21:32:49","modified_gmt":"2017-05-03T21:32:49","slug":"square-up-7-after-surpassing-quarterly-expectations","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/square-up-7-after-surpassing-quarterly-expectations.html","title":{"rendered":"Square up 7% after surpassing quarterly expectations"},"content":{"rendered":"


\n<\/p>\n

Square, the payments company founded and run by Jack Dorsey, released its quarterly financial results for the first quarter after the bell on Wednesday.<\/p>\n

The company beat expectations, bringing in $462 million in revenue, when investors were forecasting $451 million. This is a 22% increase from the same period last year.<\/p>\n

Adjusted losses per share were 4 cents, better than the negative 8 cents Wall Street was predicting. Shares shot up about 7% in initial after-hours trading.<\/p>\n

Square also touted its gross payment volume, a measurement of total transactions, which came in at $13.6 billion. This was up 33% year-over-year.<\/p>\n

The bulk of Square\u2019s revenue came from its payment transactions category, which accounted for $403 million in the first quarter.\u00a0These are primarily the transactions done on iPads, the largest\u00a0part of Square\u2019s core business.<\/p>\n

\u201cSubscription and services-based\u201d revenue brought in $49 million. This category has more than doubled in the past year. Square Capital, Caviar<\/a> and Instant Deposit contributed to the growth in the subscription category, as part of\u00a0a suite of services that they offer to small businesses.<\/p>\n

Square was in the news this past week for acquiring some of the engineers from Yik Yak<\/a>, the now defunct anonymous social network\u00a0that was once popular on college campuses.<\/p>\n

Dorsey is also simultaneously a CEO at Twitter, a company he co-founded.\u00a0Since returning to the helm in late 2015, investors have been skeptical that he would be able to successfully run both companies. Square has seen its share price soar, at a time when Twitter\u2019s has struggled.<\/p>\n

Square, which went public in late 2015 at $9 per share. It\u2019s more than doubled since then, closing the day Wednesday at $18.28.<\/p>\n

The company\u2019s market cap is now at almost $7 billion, which is symbolic for the company, which initially went public at a valuation well beneath its $6 billion last private round.\u00a0<\/a><\/p>\n

<\/p>\n

Featured Image: Paul Jeffers\/Fairfax Media via Getty Images\/Getty Images<\/small><\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/tHrQpdiek8g\/<\/p>","protected":false},"excerpt":{"rendered":"

Square, the payments company founded and run by Jack Dorsey, released its quarterly financial results for the first quarter after the bell on Wednesday. The company beat expectations, bringing in <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-5154","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t