Payment solutions provider Square, Inc. (NYSE: SQ) Tuesday reported strong increase in fourth-quarter revenues and earnings. The results also topped the Street view.
Fourth-quarter adjusted earnings moved up to $0.32 per share from $0.23 per share in the year-ago period. Experts had predicted a slower growth. Net income was $293.9 million or $0.59 per share, down from last year’s $390.9 million or $0.83 per share.
At $3.16 billion, revenues more than doubled from $1.31 billion recorded last year. The top-line also came in above estimates.
Read management/analysts’ comments on Square’s Q4 earnings
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The stock closed Tuesday’s trading sharply lower and continued to lose during the extended session, after the company released the earnings report.