Square: 4Q Earnings Snapshot

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SAN FRANCISCO (AP) _ Square Inc. (SQ) on Tuesday reported fourth-quarter net income of $294 million.

The San Francisco-based company said it had net income of 59 cents per share. Earnings, adjusted for one-time gains and costs, were 32 cents per share.

The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The mobile payments services provider posted revenue of $3.16 billion in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $3.14 billion.

For the year, the company reported profit of $213.1 million, or 44 cents per share. Revenue was reported as $9.5 billion.

Square shares have increased 18% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $256.59, more than tripling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SQ at https://www.zacks.com/ap/SQ