Square shares tank after payments company lowers guidance for the second quarter

San Francisco-based Square is well-known in the payments sector for its credit card processor, payment hardware and popular peer-to-peer Cash app. It has also moved into small business lending through Square Capital.

The payments processor beat analysts' estimates on earnings and revenue. Here's how the company performed in the first quarter vs. what Wall Street was expecting:Adjusted revenue: $489 million vs. $478 million, forecast by RefinitivGross payments volume came in at $22.6 billion, versus $22.8 billion analysts were expecting.

San Francisco-based Square, run by Twitter CEO Jack Dorsey, is well-known in the payments sector for its credit card processor, payment hardware and popular Cash App. Gross payment volume, or GPV, on the Cash App grew roughly 150 percent year over year. Last quarter, Square's peer-to-peer Cash App reported more than 15 million monthly active customers in December 2018, doubling from a year earlier.

Line in

Not good

The numbers was good

Nobody uses square

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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.
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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.
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