Square Shares Relatively Muted Despite Huge Q2 Earnings Beat

Square Inc SQ delivered a huge second-quarter earnings beat after the market close on Wednesday.

While analysts were predicting a loss of 5 cents per share, Square turned in EPS of 7 cents. Sales also beat estimates, coming in nearly $16 million higher than estimates at $552 million.

Square raised guidance for the third quarter, now seeing Q3 adjusted EPS of 4-5 cents against a projected 6-cent loss. FY 2017 guidance was raised from 16-20 cents to 21-23 cents.

To see the full results, click here.

The stock spiked to about the $27.50 level, but shares were relatively muted at time publication, up 1.2 percent at $26.76.