Square Revenue Surges 64% on Cash App, Online Orders
- Online payment volume jumped more than 50% year over year
- Square’s Cash App has more than 30 million monthly customers
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Square Inc. second-quarter sales jumped 64% on increased online business activity and a surge in the number of people using the company’s peer-to-peer payment app.
The San Francisco-based company said net revenue in the period ending June 30 was $1.92 billion, compared with $1.17 billion a year earlier. It lost 3 cents per share in the quarter.