Square Produced Strong Q3 Earnings
Square reported Q3 earnings yesterday and adjusted revenue grew 68 percent year-over-year to $431 million, beating analyst expectations. Square also marked its first quarterly profit of $20 million, compared to a loss of $16 million last year. But the company’s forecast for Q4 earnings was lower than analyst expectations and so the stock was down today. Investors are worried about increased competition in Square’s core markets. Source.