Square Reports Q3 Sales Growth

Square Inc SQ reported third-quarter earnings after Wednesday's closing bell.

The company reported adjusted earnings of 25 cents per share, beating estimates by 5 cents. Sales came in at $1.266 billion, which is a 43.51% increase over sales of $882.108 million the same period last year.

The company sees total fourth-quarter sales $1.16 billion to $1.18 billion, and adjusted sales of $585 million to $595 million versus a $621 million estimate.

Highlights

• Total net revenue grew 44% year-over-year
• Gross payment volume grew 25% year-over-year
• Gross profit grew 42% year-over-year
• Adjusted EBITDA of $131 million

Square's stock closed at $61.34 per share.

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