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Square Sales Surge on Pandemic-Fueled Boom for Cash App

A worker uses a Square Inc. terminal inside a shop in Hudson, New York.

A worker uses a Square Inc. terminal inside a shop in Hudson, New York.

Photographer: Angus Mordant/Bloomberg
Updated on

Square Inc.’s quarterly sales more than doubled, underscoring a surge in demand for Bitcoin trades, stock purchases and other financial transactions by customers cooped up during the global pandemic. The stock rose 5% in after-hours trading.

Revenue leaped 140% to $3.03 billion, far surpassing the $2.05 billion average analyst estimate, according to data compiled by Bloomberg.