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Square issues Q1, FY'18 guidance

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Square issues Q1, FY'18 guidance

Square Inc. has released its guidance for the first quarter and full year of 2018 along with its financial results for the fourth quarter and full year of 2017.

The company announced first-quarter guidance for total net revenue in the range of $605 million to $620 million and adjusted revenue of $290 million to $295 million.

The company anticipates adjusted EBITDA of $30 million to $33 million and a net loss of 9 cents to 7 cents per share. Adjusted EPS is expected to be in the range of 3 cents to 5 cents.

The S&P Capital IQ consensus normalized EPS estimate for the period is 8 cents.

The outlook for full year 2018 is for total net revenue of $2.82 billion to $2.88 billion and adjusted revenue of $1.30 billion to $1.33 billion. Adjusted EBITDA for the year is expected to be $240 million to $250 million. Square projects a net loss of 8 cents to 4 cents per share and adjusted EPS of 43 cents to 47 cents.

The S&P Capital IQ consensus normalized EPS estimate for the year is 45 cents.

For the fourth quarter of 2017, Square reported a net loss of $15.7 million, or a loss of 4 cents per share, versus a loss of $15.2 million, or a loss of 4 cents per share, in the prior-year quarter.

Adjusted net income for the period was $35.0 million, or 8 cents per share, for the quarter, an increase from $20.8 million, or 5 cents per share, in the fourth quarter of 2016.

The S&P Capital IQ consensus normalized EPS estimate for the period was 7 cents.

For full year 2017, the company logged a net loss of $62.8 million, or 17 cents per share, an improvement from a loss of $171.6 million, or 50 cents per share, a year ago.

Adjusted net income for the year was $115.0 million, or 27 cents per share, up from $15.0 million, or 4 cents per share, the previous year.

The S&P Capital IQ consensus normalized EPS estimate for 2017 was 26 cents.