Square (SQ) Stock Falls 5% Despite Surges in Gross Profits
Square (NYSE: SQ) shares fell 4.7% after-hours after the company reported its Q3 results, with EPS coming in at $0.37, slightly lower than the consensus estimate of $0.39. Quarterly revenue grew 27% to $3.84 billion.
In the quarter, gross profits jumped 43% to $1.13 billion. Seller ecosystem generated gross profit of $606 million, up 48% year over year. Cash App generated gross profit of $512 million, up 33% year over year