Market Overview

Square Falls Despite Q2 Earnings Beat

Square Falls Despite Q2 Earnings Beat

Square, Inc. (NYSE: SQ) shares dropped after the close on Thursday after it reported earnings.

The payments company reported second-quarter earnings of 21 cents per share, topping the analyst consensus estimate of 16 cents by 31.25% on adjusted net revenue of $562.8 million.

The company noted revenue was continuing to grow.

"We continued to generate strong revenue growth at scale and are investing in our business to drive long-term growth," the company said in a press release.

Square also announced it was selling its food delivery company, called Caviar, to DoorDash for $410 million. San Francisco-based Square's main business is processing financial transactions, including with its Cash app.


  • Total revenue grew 44% year over year to $1.17 billion
  • Adjusted revenue grew 46% year over year to $563 million.
  • Net loss was $7 million in the second quarter, compared to a net loss of $6 million in second quarter 2018.
  • Adjusted EBITDA was $105 million in the second quarter of 2019, up 54% year over year.

Square's stock was down 8% after the close to $74.43.

Related Links:

Cramer To Facebook: Forget About Libra, Acquire Square

Wedbush Stays On The Sidelines With Square, Points To Margin Expansion Concerns

Posted-In: Earnings News Guidance Top Stories After-Hours Center


Related Articles (SQ)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

'No End In Sight:' Boris Johnson's Brexit Prep Breaks The Pound, No-Deal Scenario Likely

Pete Najarian Sees Unusual Options Activity In Pan American Silver Corp. And SPDR Gold Trust