Square (SQ) To Report Q3 Earnings: What's In The Offing?
Zacks Investment Research | Nov 01, 2018 11:00PM ET
Square, Inc. (NYSE:SQ) is scheduled to report third-quarter 2018 results on Nov 7.
The company surpassed the Zacks Consensus Estimate in the trailing four quarters with an average beat of 17.29%.
In the last reported quarter, Square delivered a positive earnings surprise of 18.18%. Adjusted earnings came in 13 cents, surging 85.7% on a year-over-year basis and 116.7% sequentially. The figure came ahead of management’s guided range of 9-11 cents per share.
Net revenues of $815 million surpassed the Zacks Consensus Estimate of $773 million and also came ahead of the revised guided range of $744-$764 million. The figure increased 47.6% from the year-ago quarter and 21.8% on a sequential basis.
The strong performance of Cash App and Caviar drove top-line growth. This aided Gross Payment Volume (“GPV”) aided Square’s second-quarter results further.
For third-quarter 2018, management expects net revenues between $840 million and $860 million. Further, adjusted earnings are expected in the range of 8 to 10 cents per share.
Coming to the price performance, shares of Square have returned 127.9% on a year-to-date basis, outperforming the Square, Inc. Quote
What Our Model Says
According to the Zacks model, a company with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) has good chance of beating estimates if it also has a positive Zacks Investment Research
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