Square's earnings expectations have gotten slashed, but the mobile-payments company still has a high bar to clear (SQ) | Markets Insider

reported second-quarter sales and profits guidance Wednesday that disappointed analysts, sending shares lower by 7% in after-hours trading.

The Jack Dorsey-led mobile payments company is set to release first-quarter earnings after the bell on Wednesday. Analysts have pared down their expectations for those results by about $0.

"We expect full year revenue guidance could move up, but see EBITDA holding firm recognizing now is the time for Square to invest in consumer/card initiatives; hence we are front loading more expenses for the year," the JPMorgan analysts wrote. "With lots of energy and competition for on-demand banking services like Cash App, we expect investments to drive habitual usage to stay elevated."In a mid-April note to investors, SunTrust analysts led by Andrew Jeffrey said that while the Square is the"most dynamic and disruptive name we follow," its high valuation has everything priced in.More broadly, Wall Street analysts are nearly split between bullish and neutral.

Square shares have jumped 32% this year, but remain 26% below their all-time high of $101.15 set in October.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Square shares tank after payments company lowers guidance for the second quarterSquare shares dropped after the company reported weaker-than-expected gross payments volume and lowered its guidance for the second quarter. Nobody uses square The numbers was good Not good
Source: CNBC - 🏆 12. / 72 Read more »

A Chinese ride-hailing company is so unhappy with its fleet of 278 Tesla cars that it bought billboards in Times Square to demand refundsShenma Zhuanche said it was inspired by the movie 'Three Billboards Outside Ebbing, Missouri' to air its grievances against Elon Musk's car company. Hei abang ashiap I wish Tesla cars were also common here as taxi cabs as Mercedes-Benz are in India. Times have changed a lot. SAI There has to be a balanced outlook. Tesla is revolutionary concept but they still need to catch up with others' in reliability/service/ecosystem. Often cult like followers ignore/suppress these issues and then situations like these happen.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Square's earnings expectations have gotten slashed, but the mobile-payments company still has a high bar to clearSquare is set to report first-quarter earnings after the bell on Wednesday. The mobile payments firm offered disappointing guidance last quarter.
Source: BusinessInsider - 🏆 729. / 51 Read more »