Square Inc. SQ just released its Q2 2016 earnings results, posting revenue of $439 million.
Currently, Square has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company's latest earnings report. Here are 4 key statistics from this just announced report below.
1. Beat revenue estimates . The company saw revenue figures of $439 million, beating our estimate of $407.5 million.
2. In its shareholder letter, Square stated that "We are pleased with our second quarter results, which highlight strong growth at scale and a significant profitability milestone. Gross Payment Volume (GPV) for the second quarter was $12.5 billion, up 42% year over year."
3. They continued, stating that "For 2016, our total net revenue is expected to be in the range of $1.63 billion to $1.67 billion. We have not previously guided to this GAAP measure. Total net revenue growth will be impacted by the continued decline in Starbucks transaction revenue as it transitions to a new payments processor."
4. SQ was up $0.94, or 9%, to $11.38. as of 4:48 p.m. EDT in after-hours trading shortly after its earnings report was released.
Here's a graph that looks at Square Inc.'s latest earnings performance:
SQUARE INC Price and EPS Surprise
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.
Check back later for our full analysis on Square Inc.'s latest quarterly earnings report!
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