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Square stock pops after earnings beat

Yahoo Finance's Jared Blikre breaks down Square's Q3 earnings

Video Transcript

- We get a nice beat here on both the top and bottom lines. Let's get straight to the numbers. Third quarter adjusted EPS came in at $0.34 a share, versus expectations of $0.16 a share. And a year, it was right in the middle of about $0.25. And then the key metric of gross payment volume, that beat, on expectations, $31.73 billion, up 13% year over year. And the estimate was for lower, at just over $30 billion.

Now, their net revenue was also a beat. That was $3.03 billion. Estimate was for $2.05 billion. So that is a beat of 50%, by my calculations there. And third quarter adjusted EBITDA was. $181 million. That's up 38% year over year. And the estimate was for $96 million, quite a bit lower. So they doubled that expectation, essentially.

Couple other notes here. Transaction services revenue beat at $925 million. And then hardware revenue also beat at $27.3 million. And just looking at the stock here on the Wi-Fi interactive, up just short of 4% here. So despite the huge beats on those numbers, just being rewarded a little bit. But if you look at the year to date performance, 180%. Kind of understandable why investors are treating these results a little bit mutedly.