SQ Block Inc

By Kimberly Chin

Square Inc. said it expects fiscal 2020 sales to range between $5.9 billion and $5.96 billion as the company expects a strong year of revenue and profit.

The payment company said it sees compelling opportunities for more growth in its seller and cash app ecosystems.

Adjusted earnings before interest, taxes, depreciation and amortization is projected to be around $500 million and $520 million. On a per-share basis, the company expects adjusted earnings of 90 cents to 94 cents a share.

The company projects a GAAP loss of 9 cents to 5 cents a share for the year.

For the current quarter, Square expects revenue between $1.34 billion and $1.36 billion and a GAAP loss between 3 cents and 1 cent a share. First-quarter adjusted EPS is projected to be around 16 cents to 18 cents a share.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

February 26, 2020 17:46 ET (22:46 GMT)

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