Cryptocurrencies start contributing as Square earning beats street estimate
It was all joys for Jack Dorsey’s Bitcoin-integrated financial services company Square as they received two stunning news – First being it took over Twitter (Jack’s other company) in market cap $30 billion to $25 billion and Second being that the company delivered stellar quarterly results beating street estimates. One thing worth noticing here was cryptocurrency business did have its share of contribution in both the news.
Cryptocurrency business contributes USD 43 million (near 10% of this quarter) to revenues
San Francisco-based Square, which is well-known in the payments sector for its credit card processor, payment hardware and popular Cash app ,reported quarterly earnings and revenue that beat analysts’ expectations on Wednesday but came up slightly short on forward guidance.
According to CNBC, Squares results outperformed both on the top line and the bottom line. Here is the performance compared to the street expectation
- Earnings: 13 cents per share vs. 11 cents per share…
Read Full Story : Coingape