March 5, 2020 / 9:29 PM / a month ago

Square cuts full-year adjusted profit forecast on notes offering

March 5 (Reuters) - Square Inc on Thursday cut its full-year adjusted profit forecast citing higher interest expense from the issuance of a $1 billion convertible note offering.

The payments processor expects 2020 adjusted profit between 88 cents and 92 cents per share, compared with its prior outlook of 90 cents to 94 cents per share.

For the first quarter, the company forecast a bigger loss between 2 cents and 4 cents per share, compared with a prior outlook of a loss of between 1 cent and 3 cents per share. (Reporting by Bharath Manjesh in Bengaluru; Editing by Shailesh Kuber)

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