posted a rise in first-quarter revenue on Thursday as its popular payments platform Cash App continued to drive growth, a metric investors will watch closely following U.S. short-seller Hindenburg Research's disclosure in March of short positions in the firm.
The company posted total net revenue of $4.99 billion in the quarter ended March 31, up 26% from the prior year and beating analysts' estimate of $4.59 billion, according to Refinitiv data. Hindenburg, whose report this year triggered a rout of more than $100 billion in shares of India's Adani Group companies,
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