Square (NYSE:SQ) earnings for the financial services company’s fourth quarter of 2019 have SQ stock soaring after-hours Wednesday. That’s thanks to its diluted earnings per share (EPS) of 23 cents and revenue of $1.31 billion. These both beat out Wall Street’s estimates of 21 cents per share and revenue of $593.07 million.
Here are some additional highlights from the most recent Square earnings report.
- Diluted EPS for the quarter is up 64.29% from 14 cents during the same time last year.
- Revenue for the quarter comes in 40.41% higher than the $933 million from the fourth quarter of 2018.
- Operating income of $17.35 million is much better than the operating loss of -$3.11 million in the same period of the year prior.
- The Square earnings report also has it bringing in a net income of $390.94 million.
- That’s a switch from the company’s net loss of -$28.2 million in the fourth quarter of the previous year.
Square details the following in a letter to SQ shareholders:
“For the full year of 2019, total net revenue grew 43% year over year to $4.71 billion, and gross profit grew 45% year over year to $1.89 billion. Excluding Caviar, total net revenue grew 45% year over year to $4.57 billion, and gross profit grew 46% year over year to $1.85 billion.”
The Square earnings report also includes its full year 2020 guidance. This has it expecting adjusted EPS of 90 cents to 94 cents on revenue between $5.9 billion and $5.96 billion. Wall Street’s estimates are for adjusted EPS of 95 cents on revenue of $2.85 billion.
SQ stock was up 7.85% after markets closed Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.