Why Square Shares Are Falling During Thursday's After-Hours Session

Square Inc SQ shares are trading lower after the company reported worse-than-expected third-quarter EPS results.

See Also: Square Loses Ground After Earnings Miss: What's Next For Shares?

Square reported quarterly earnings of 37 cents per share which missed the analyst consensus estimate of 39 cents. Square also reported $3.84 billion in sales this quarter. This is a 27% increase over sales of $3.03 billion in the same period last year.

In the third quarter of 2021, Square generated gross profit of $1.13 billion, up 43% year over year. Square's seller ecosystem generated gross profit of $606 million, up 48% year over year. Square says Cash App generated gross profit of $512 million, up 33% year over year.

Square provides payment acquiring services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network.

Square has a 52-week high of $289.23 and a 52-week low of $162.15.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Newswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!