Square gains as revenue and gross payment volume rise
Shares of Square Inc. rose in Wednesday's extended session after the payment processing company posted its first quarterly results following its initial public offering in November. Square reported its fourth-quarter loss widened to $80.5 million, or 34 cents a share, from a loss of $37.1 million, or 25 cents a share, a year earlier. Revenue increased to $374.4 million from $250.9 million while gross payment volume rose 47% year over year to $10.2 billion. Analysts surveyed by FactSet had forecast a loss of 14 cents a share on revenue of $322 million. Shares extended gains, climbing 5% in the late trade after closing the regular session up 4.8% to $12.03.
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