Jack Dorsey, CEO of Square and Twitter
Photograph by Yana Paskova — Bloomberg via Getty Images
By Reuters
November 1, 2016

Square, the mobile payments company co-founded and run by Twitter CEO Jack Dorsey, reported a 32.2% jump in quarterly revenue as it processed more transactions.

Square’s net revenue rose to $439 million in the third quarter ended Sept. 30 from $332.2 million a year earlier.

Net loss attributable to common stockholders narrowed to $32.3 million, or 9 cents per share, from $53.9 million, or 35 cents per share.

Square, which went public in November last year, facilitates payments between businesses and customers by using a credit card reader that turns any mobile phone into a payment terminal.

The company also offers services for businesses such as point-of-sale registers, invoice software and loans.

Squares shares rose 2.5% in after-hours trading on Tuesday to $11.34.


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