Square (SQ) Q2 Loss In Line With Expectations, Revenues Top
Zacks Investment Research | Aug 03, 2017 10:38PM ET
Square Inc.'s (NYSE:SQ) adjusted loss in the second quarter of 2017 was 4 cents per share, in line with the Zacks Consensus Estimate. Revenues came in at $552 million, surpassing the consensus mark of $536 million. Shares barely moved in afterhours trading.
Year over year, net loss narrowed significantly driven by strong top-line growth, ongoing operating leverage and lower risk loss rates. Strong top-line growth was driven by an increase in larger sellers and product usage through cross-selling.
At the call, management sounded upbeat about the company’s increased focus and progress with automation. Automation is enabling the company to increase reach of financial system to more people, scale up its own operations and help sellers with advanced CRM tools.
The company displays consistent business growth through balancing investment and margin expansion. Square continues to add Invoices sellers, reaping benefits from the integration of Invoices into the Square app. The company continues to expand its industry-specific solutions, thereby increasing the reach of sellers and enhancing sales.
We believe that Square’s comprehensive commerce ecosystem, accelerated business growth and focus on integration, automation, and platform will drive growth going forward. Year to date, Square has impressed investors with its share price surging a massive 85%, significantly outperforming the Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.