Square Raises Earnings Guidance - Quick Facts

(RTTNews) - Square (SQ) announced, for fiscal 2018, the company now expects adjusted earnings per share in a range of $0.44 to $0.48, revised from prior guidance range of $0.43 to $0.47. Adjusted revenue is now expected to be in a range of $1.40 to $1.43 billion compared to prior guidance range of $1.30 to $1.33 billion. The company raised its full-year guidance for total net revenue and adjusted revenue to reflect the ongoing momentum of its business and the acquisition of Zesty, which closed on April 19. The company noted that the 2018 guidance does not include the impact from the Weebly acquisition.

First-quarter adjusted EPS was $0.06 based on 462 million weighted-average diluted shares, representing a $0.01 improvement year over year. Total net revenue was $669 million, up 45%. Excluding bitcoin revenue, total net revenue was $635 million, up 37%. Adjusted revenue was $307 million, up 51%. Adjusted revenue included $0.2 million related to bitcoin.

In the first quarter of 2018, the company processed $17.8 billion in Gross Payment Volume, up 31% year over year.