May 3, 2017 / 8:09 PM / 5 months ago

REFILE-Dorsey-led Square's quarterly loss narrows

(Corrects to change media packaging slug, with no changes to text)

May 3 (Reuters) - Square Inc, the payments company co-founded by Twitter Inc Chief Executive Jack Dorsey, reported a smaller quarterly loss on Wednesday, as customers processed more transactions through its network.

The company said net loss narrowed to $15.1 million, or 4 cents per share, in the first quarter ended March 31, from $96.8 million, or 29 cents per share, a year earlier. (bit.ly/2pIUjea)

Net revenue rose to $461.6 million from $379.3 million.

Square facilitates payments between businesses and customers by using a credit card reader that turns any cellphone into a payment terminal. (Reporting by Sruthi Shankar in Bengaluru; Editing by Sai Sachin Ravikumar)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below