Square (NYSE:SQ) posted its latest quarterly earnings figure late on Wednesday, raking in adjusted earnings and revenue that beat estimates, but a weak guidance for its current quarter pushed shares downwards after the ring of the bell.
The payment services business reported for its fourth quarter of 2018, drawing in adjusted earnings of about 14 cents per share, marking a 6% gain when compared to its year-ago period. The figure also topped the Wall Street average guidance by a penny per share, according to the Refinitiv guidance.
For the three-month period, Square also amassed an adjusted sales total of $464 million, about 64% more than it did during its fourth quarter of fiscal 2017. The Refinitiv projection saw the Silicon Valley giant bringing in adjusted revenue of $454 million.
The company’s subscription and services brought in sales of $194 million, more than doubling from the year-ago quarter. Square added that this figure reached $592 million for the fiscal year.
Now in the thick of its fiscal 2019, the financial services operator forecasts first-quarter adjusted earnings in the range of 6 cents to 8 cents per share. Analysts are calling for the company to tally up adjusted earnings of 11 cents per share. Meanwhile, the company’s revenue outlook for its first quarter is in line with what analysts call for.
SQ stock is down more than 6.3% after hours on Wednesday following a mixed quarter for the company. Square shares had been moving up about 1.8% during regular trading.