Earnings Results: Square stock slips after outlook, volume fall short

Square Inc. shares were down 5.5% in after-hours trading Wednesday, after the company missed on payment volume and disappointed in its second-quarter outlook, even as it topped analysts’ estimates for revenue and profit.

The San Francisco-based financial company expects to continue investing in its business as the year goes on, putting money behind omnichannel commerce, international expansion and the peer-to-peer Cash app, while contending with a slowdown in gross payment volume.

Square’s SQ, +1.10% gross payment volume grew to $22.6 billion, up from $17.8 billion a year ago, but fell short of the FactSet consensus for the second straight quarter.

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