November 7, 2018 / 9:21 PM / a year ago

Square swings to quarterly profit

Nov 7 (Reuters) - Jack Dorsey-led Square Inc swung to a quarterly profit from a loss a year ago, it said on Wednesday, as it earned more from processing transactions and from its subscription and services business.

The digital payments company's net income was $19.6 million, or 4 cents per share, in the third quarter ended Sept. 30, compared with a loss of $16.1 million, or 4 cents per share, a year earlier.

On an adjusted basis, the company earned 13 cents per share.

Analysts on average had expected a profit of 11 cents per share, according to IBES data from Refinitiv. It was not immediately clear if the numbers were comparable. (Reporting By Aparajita Saxena in Bengaluru; Editing by Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below