Square Sees Wider Loss From $1 Billion Convertible Note Offering
March 05 2020 - 5:22PM
Dow Jones News
By Maria Armental
Square Inc. on Thursday revised financial projections to account
for higher interest expense tied to a $1 billion convertible note
offering.
The company now expects the first-quarter loss to range from 2
cents to 4 cents a share, compared with its earlier view of a penny
to 3 cents a share.
For the year, it now expects the loss to range from 11 cents to
15 cents a share, compared its earlier view of 5 cents to 9 cents a
share.
The update doesn't affect its revenue guidance of $1.34 billion
to $1.36 billion for the quarter and $5.9 billion to $5.96 billion
for the year.
Square is slated to report first-quarter results on May 6.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
March 05, 2020 17:07 ET (22:07 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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