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Markets News

Square's Q2 revenue surges as pandemic stokes online shopping shift

Aug 4 (Reuters) - Payments processor Square Inc reported on Tuesday a 64% jump in second-quarter revenue, as consumers shifted towards more online buying and used its peer-to-peer Cash App platform during the COVID-19 pandemic.

The company’s net revenue came in at $1.92 billion, compared with $1.17 billion last year. Gross profit grew 28% on-year to $597 million (Reporting by Vishwadha Chander in Bengaluru, Editing by Sherry Jacob-Phillips)

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