Square, the mobile payments company co-founded and run by Twitter Chief Executive Jack Dorsey, reported a 20.7% jump in quarterly revenue as it processed more payments.
Net loss attributable to common stockholders narrowed to $15.17 million, or four cents per share, in the fourth quarter ended Dec. 31, from $80.5 million, or 34 cents per share, a year earlier.
Square’s net revenue rose to $451.9 million from $374.4 million.
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The company facilitates payments between businesses and customers by using a credit card reader that turns any mobile phone into a payment terminal.
The company’s shares (sq) were up 5% in after-market trading on Wednesday.