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REFILE-Dorsey-led Square's quarterly loss narrows
May 3, 2017 / 8:09 PM / in 7 months

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. (

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)

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