Finance
Square earnings Q3: What Wall Street says
Jack Dorsey, CEO of Square.REUTERS/Mike Blake
Square on Wednesday reported better-than-expected third-quarter revenue and profits, but its fourth-quarter profits guidance disappointed.
The mobile-payment provider posted adjusted earnings of $0.13 a share on adjusted revenue of $431 million, beating the $0.11 and $414 million that Wall Street analysts surveyed by Bloomberg were expecting.
Looking ahead, Square says it sees fourth-quarter earnings of $0.12 to $0.13 a share. That was a bit shy of the $0.15 that was expected.
Meanwhile, Square boosted its full-year earnings-per-share guidance to $0.45 to $0.46 a share on $1.57 billion of revenue. Analysts were looking for $0.45 and $1.55 billion respectively.
While the company’s profit guidance disappointed traders, sending shares down 6% early Thursday, Wall Street analysts were impressed by Square’s revenue, and are bullish about its long-term growth opportunity.
Nearly every analyst believes the stock will move higher over the long term. Here’s what they are saying:
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