Square Shares Jump After Revenue Outlook Is Hiked

By Wallace WitkowskiMarketsMarketWatch Pulse

Square Inc. shares jumped late Wednesday after the digital payments company raised its revenue guidance for the year. Square shares surged 9.2% to $11.40 in after-hours trading. The company forecast that adjusted full-year revenue will be between $655 million and $670 million, up from a previous range of $615 million to $635 million. An analyst survey by FactSet had produced a consensus estimate of $642.6 million. For the second quarter, Square reported a loss of 8 cents a share on adjusted revenue of $171 million. Analysts had estimated a loss of 3 cents a share on revenue of $157.8 million.

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