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NetworkNewsBreaks – Square, Inc. (NYSE: SQ) Featured in Analysis Report

Company: Square, Inc. (SQ)
Category: Analyst Alerts

Square (NYSE: SQ), an American aggregator of financial and merchant services, was featured in an analysis report discussing the company’s recent release of financial results for the second quarter of 2020. The report, written by LikeFolio Founder Andy Swan, reads, “After a surprise early earnings release (reporting 64% revenue growth) SQ shares surged. Users flooded into Cash App. Profit increased 167% and revenue from Bitcoin increased 600%. You can see this surge in consumers using Cash App as an investment tool on the chart below, heavily tilted to Bitcoin mentions. Overall demand for Square products increased +92% in the last 90 days vs. prior year (including business transactions, peer-to-peer payments, and website building on Weebly). While business-related payment volume was down, a transition to online selling was apparent: payment volume from online channels was up 50%.”

About Square, Inc.

Square, Inc. (NYSE: SQ) revolutionized payments in 2009 with Square Reader, making it possible for anyone to accept card payments using a smartphone or tablet. Today, the company builds tools to empower businesses and individuals to participate in the economy. Sellers use Square to reach buyers online and in-person, manage their business, and access financing. And individuals use Cash App to spend, send, store, and invest money. Square has offices in the United States, Canada, Japan, Australia, Ireland, Spain, and the UK. For more information, visit the company’s website at www.SquareUp.com.

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