Square Results Top Analysts' Estimates After Larger Merchants Join
- Adjusted quarterly revenue jumps 41 percent to $240 million
- Sales to larger sellers continued to grow in latest quarter
Square Beats Estimates as Larger Merchants Join
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Square Inc.’s quarterly results topped analysts’ projections, helped by larger merchants joining its platform and increasing sales of its business software and services.
Adjusted revenue rose 41 percent to $240 million, compared with the average analyst estimate of $229.5 million, as Square’s merchant customers processed more payments and paid the company for services like loans, instant deposits and software to help manage inventory.