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Markets News

Square reports 24% rise in third-quarter profit

Nov 5 (Reuters) - Square Inc reported a 24% jump in third-quarter profit on Thursday, as the COVID-19 pandemic boosted online spending and transactions on the company’s peer-to-peer payments app.

The company’s net income rose to $36.5 million, or 7 cents per share, in the quarter ended Sept. 30, from $29.4 million, or 6 cents per share, a year earlier.

Reporting by Niket Nishant in Bengaluru; Editing by Vinay Dwivedi and Maju Samuel

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