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Square Inc. (SQ) Stock Surges 9% on Raised Guidance

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.

Square:

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 Price and EPS Surprise | SQUARE INC Quote

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!

If you want information on how to trade during earnings season, check out the Zacks Market Edge Podcast below.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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