Square Inc. (NYSE:SQ) just released its third quarter fiscal 2016 financial results, posting earnings of a loss of 9 cents per share and revenues of $439 million. SQ is a Zacks Rank #2 (Buy), and is up 4.07% to $11.50 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company reported earnings of a loss of 9 cents per share, topping the Zacks Consensus Estimate of a loss of 11 cents per share.
Beat revenue estimates. The company saw total net revenue figures of $439 million, beating our consensus estimate of $432 million and gaining 32% year-over-year. Investors should note this includes revenue from Starbucks (NASDAQ:SBUX).
Gross Payment Volume (GPV) for the third quarter was $13.2 billion, up 39% year over year. Square said that GPV from larger sellers, whom they define as “those who generate more than $125,000 in annualized GPV,” grew 55% year over year, representing 43% of GPV in Q3.
Looking ahead, Square is raising its epxectations for bith Q4 and full year 2016. The company now expects total net revenue to be in the range of $438 million to $443 million. For 2016, total net revenue is expected to be in the range of $1.695 billion to $1.700 billion.
Here’s a graph that looks at Square’s price, consensus, and EPS surprise:
SQUARE INC Price, Consensus and EPS Surprise
SQUARE INC Price, Consensus and EPS Surprise | SQUARE INC Quote
Square, Inc. offers financial services and marketing services. The Company provides payments and point-of-sale which include hardware and software to accept payments, streamline operations and analyze business information. Its payments and POS services include In-Person Payments, Online Payments, Square Cash, Square Register, Square Analytics, Square Appointments and Square App Marketplace. The Company's financial services include Square Capital and Square Payroll. Square, Inc. is headquartered in San Francisco, California.
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SQUARE INC (SQ): Free Stock Analysis Report
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