Square Reports 4Q Profit Boosted by DoorDash Investment
By Allison Prang
Payments company Square Inc. reported a profit in its fourth
quarter, which was lifted by its investment in DoorDash.
Square's fourth-quarter profit was $294 million, a drop from
$390.9 million a year ago. Earnings were 59 cents a share, down
from 83 cents a share a year ago.
The company's profit included a $274.3 million gain related to
equity investments. That gain, Square said, was mostly from the
mark-to-market valuation of Square's investment in DoorDash, Square
Adjusted earnings were 32 cents a share. According to FactSet,
analysts were expecting 24 cents a share.
Revenue more than doubled to $3.16 billion. Analysts were
expecting $3.1 billion.
Write to Allison Prang at firstname.lastname@example.org
(END) Dow Jones Newswires
February 23, 2021 16:56 ET (21:56 GMT)
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