Square Gives Upbeat Earnings Feb 2020

Square Gives Upbeat Earnings Feb 2020

Square Inc. issued an upbeat March-quarter forecast Wednesday while also providing new details about its popular Cash App.

The payments company disclosed in conjunction with its latest earnings report that the Cash App had about 24 million monthly active customers in December, up 60% on a year-over-year basis as Square SQ, +6.54%  registered its largest-ever monthly increase in net new additions to the app. Annualized revenue per monthly active customer in December topped $30, up from less than $15 in December 2017.

Shares were up more than 7% in aftermarket trading Wednesday after the payments company also posted better-than-expected results for the fourth quarter…

Source: MarketWatch

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