Square’s fourth quarter revenues surged 36% to $616 million. GAAP loss remained flat at $0.04 per share vs. prior year period and non-GAAP earnings came in at $0.08 per share, up 60% vs. fourth quarter of 2016. Adjusted EBITDA improved 38% to $41 million vs. $30 million reported last year.
Subscription and services-based revenues spiked 96% touching $79 million, mainly due to the strong performance from Instant Deposit, Caviar, and Square Capital.
Gross Payment Volume
Gross payment volume (GPV), a key metric to track, jumped 31% to $17.9 billion. GPV is the total amount processed by merchants using Square (SQ) platform. The company charges transaction fees based on GPV generated by the merchants.
For the first quarter of 2018, the company expects its revenues to be between $605 million and $620 million. On an adjusted basis, earnings is targeted in the range of $0.03 to $0.05.
For fiscal 2018, revenues are expected in the range of $2.82 billion to $2.88 billion and non-GAAP earnings would be between $0.43 and $0.47 per share.