![](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2017\/04\/gettyimages-520557826.jpg?w=738\")
<\/p>\n<\/p>\n
Square, the payments company founded and run by Jack Dorsey, released its quarterly financial results for the first quarter after the bell on Wednesday.<\/p>\n
The company beat expectations, bringing in $462 million in revenue, when investors were forecasting $451 million. This is a 22 percent increase from the same period last year.<\/p>\n
Adjusted losses per share were 4 cents, better than the negative 8 cents Wall Street was predicting. Shares shot up about 7 percent in initial after-hours trading.<\/p>\n
Square also touted its gross payment volume, a measurement of total transactions, which came in at $13.6 billion. This was up 33 percent year-over-year.<\/p>\n
The bulk of Square\u2019s revenue came from its payment transactions category, which accounted for $403 million in the first quarter.\u00a0These are primarily the transactions done on iPads, the largest part of Square\u2019s core business.<\/p>\n
\u201cSubscription and services-based\u201d revenue brought in $49 million. This category has more than doubled in the past year. Square Capital, Caviar<\/a> and Instant Deposit contributed to the growth in the subscription category, as part of\u00a0a suite of services that they offer to small businesses.<\/p>\n Square was in the news this past week for acquiring some of the engineers from Yik Yak<\/a>, the now defunct anonymous social network\u00a0that was once popular on college campuses.<\/p>\n Dorsey is also simultaneously a CEO at Twitter, a company he co-founded.\u00a0Since returning to the helm in late 2015, investors have been skeptical that he would be able to successfully run both companies. Square has seen its share price soar, at a time when Twitter\u2019s has struggled.<\/p>\n Square went public in late 2015 at $9 per share. It\u2019s more than doubled since then, closing the day Wednesday at $18.28.<\/p>\n The company\u2019s market cap is now at almost $7 billion, which is symbolic for the company, which initially went public at a valuation well beneath its $6 billion last private round.\u00a0<\/a><\/p>\n Featured Image: Paul Jeffers\/Fairfax Media via Getty Images\/Getty Images<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"![\"\"](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2017\/04\/gettyimages-520557826.jpg?w=680\")
Square, the payments company founded and run by Jack Dorsey, released its quarterly financial results for the first quarter after the bell on Wednesday. The company beat expectations, bringing in $462 million in revenue, when investors were forecasting $451 million. This is a 22 percent increase from the same period last year. Read More<\/a><\/p>\n\n<\/img><\/a>
<\/img><\/a>
<\/img><\/a>
<\/img><\/a>
<\/img><\/a>
<\/img><\/a>\n<\/div>\n
<\/p>\n","protected":false},"author":5817,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[25],"tags":[59,66,26],"class_list":["post-340043","post","type-post","status-publish","format-standard","hentry","category-technology","tag-media","tag-techcrunch","tag-technology"],"_links":{"self":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts\/340043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/users\/5817"}],"replies":[{"embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/comments?post=340043"}],"version-history":[{"count":0,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts\/340043\/revisions"}],"wp:attachment":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/media?parent=340043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/categories?post=340043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/tags?post=340043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}