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Square Inc. net income jumps YOY in Q2

Square Inc. reported second-quarter adjusted net income of $100.4 million, or 21 cents per share, up from $62.4 million, or 13 cents per share, in the year-ago period.

On a GAAP basis, the company reported a net loss of $6.7 million, or 2 cents per share, compared to a loss of $5.9 million, or 1 cent per share, in the 2018 quarter.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 16 cents.

The company also provided third-quarter and full-year 2019 adjusted EPS guidance of 18 cents to 20 cents and 74 cents to 78 cents, respectively.

The S&P Global Market Intelligence consensus normalized EPS estimates for the third quarter and full year are 22 cents and 76 cents, respectively.

The company posted total net revenue for the second quarter of $1.17 billion, compared to $815.0 million in the same period a year ago.

Gross payment volume for the quarter was $26.79 billion, up from $21.37 billion in the 2018 quarter.