February 26, 2020 / 9:18 PM / a month ago

Payments processor Square posts quarterly profit compared to year-ago loss

Feb 26 (Reuters) - Payments processor Square Inc on Wednesday reported quarterly profit compared with a loss a year earlier, boosted by growth in its subscription and services business.

The company posted a profit of $390.9 million, or 83 cents per share, in the fourth quarter ended Dec. 31 compared with a loss of $28.2 million, or 7 cents per share, a year earlier. (bit.ly/2TjJT1P).

Total net revenue rose to $1.31 billion from $932.5 million. (Reporting by Bharath Manjesh in Bengaluru; Editing by Arun Koyyur)

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