Square Inc. (NYSE: SQ) today announced its first quarter financial results for the period ended March 31, 2020.
First quarter net loss was $105.8 million, or ($0.24) per share, compared to net loss of $38.1 million or $(0.09) per share in the first quarter of 2019.
Net revenues increased 44% to $1.38 billion.
Liquidity at the end of the quarter was $3.4 billion.
For FY20, Square expects to decrease non-GAAP operating expenses by $75 million to $125 million, compared to their initial expectations for 2020.
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