Square’s continued profitability could help it expand its merchant and consumer businesses - Business Insider

, all of which may be costly to develop and scale but have the potential to attract new merchants and revenue opportunities. For example, more than 30% of Square Terminal and Square Register merchants are new to Square, and the firm may be able to afford such efforts because its business is profitable.

Meanwhile, it's adding new consumer-facing features to its Cash App that could propel that part of its business. The peer-to-peer platform brought in $159 million in revenue, excluding Bitcoin, in Q3, which was up 115% YoY, so its performance is already on the rise. And with the introduction of tools like its new offering, it could grow rapidly going forward.

, Business Insider Intelligence's expert product suite keeping you up-to-date on the people, technologies, trends, and companies shaping the future of consumerism, delivered to your inbox 6x a week. >>

United States United States Latest News, United States United States Headlines

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

Square profit tops estimates on growth in subscription and services businessPayments processor Square Inc beat analysts' estimates for quarterly profit... Absolutely love square Square
Source: Reuters - 🏆 2. / 97 Read more »

Stocks making the biggest moves premarket: Roku, SeaWorld, Boeing, Square, Expedia & moreThese are the stocks posting the largest moves before the bell, including Roku, SeaWorld, Boeing, Square, Expedia and more.
Source: CNBC - 🏆 12. / 72 Read more »

Square dumped food-delivery service Caviar earlier this year. Now it's boosted its profit forecast on the heels of strong earnings.The company finalized its $410 million Caviar sale on October 31. Square upgraded its guidance both with and without the sale taken into account.
Source: BusinessInsider - 🏆 729. / 51 Read more »