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Square: 1Q Earnings Snapshot

SAN FRANCISCO (AP) _ Square Inc. (SQ) on Wednesday reported a loss of $38.2 million in its first quarter.

On a per-share basis, the San Francisco-based company said it had a loss of 9 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 11 cents per share.

The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The mobile payments services provider posted revenue of $959.4 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $942.6 million.

For the current quarter ending in July, Square expects its per-share earnings to range from 14 cents to 16 cents.

The company said it expects revenue in the range of $1.09 billion to $1.11 billion for the fiscal second quarter.

Square expects full-year earnings in the range of 74 cents to 78 cents per share, with revenue ranging from $4.41 billion to $4.47 billion.

Square shares have increased 31% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $73.67, an increase of 53% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SQ at https://www.zacks.com/ap/SQ