Square, Inc. Q4 Profit Tops Estimates; Net Revenue Up 41%

(RTTNews) - Square, Inc. (SQ) reported fourth-quarter adjusted net income per share of $0.23, a $0.09 improvement year over year. On average, 37 analysts polled by Thomson Reuters expected the company to report profit per share of $0.21, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was $119 million, up 46% year over year.

Fourth-quarter total net revenue was $1.31 billion, up 41% year over year. Excluding Caviar, total net revenue was $1.30 billion, up 46%. Transaction-based revenue was $832 million in the fourth quarter of 2019, up 25% year over year. The company processed $28.6 billion in GPV in the fourth quarter, up 25% year over year.

For fiscal 2020, the company projects adjusted earnings per share of $0.90 to $0.94; and total net revenue of $5.90 billion to $5.96 billion. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.95.

For the first quarter, the company projects adjusted earnings per share of $0.16 to $0.18; and total net revenue of $1.34 billion to $1.36 billion. Analysts expect the company to report profit per share of $0.16.

Shares of Square, Inc. were up 7% after hours.