Square's 1Q Revenue Soars on Bitcoin
May 06 2021 - 4:47PM
Dow Jones News
By Allison Prang
Square Inc. reported a hefty pop in revenue in the first quarter
because of bitcoin.
The payments company's revenue was $5.06 billion, up from $1.38
billion a year ago. That was higher than Wall Street's consensus of
$3.34 billion according to FactSet. The increase was fueled by a
more than $3 billion increase in bitcoin revenue.
Square's earnings were $39 million, or 8 cents a share. A year
earlier, the company's loss was $105.9 million, or 24 cents a
share. Adjusted earnings were 41 cents a share, while analysts were
expecting 17 cents a share for the adjusted earnings.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
May 06, 2021 16:32 ET (20:32 GMT)
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