Square Inc. said late Thursday that it was updating its guidance to include the effects of the debt the payments company issued. The company said investors should expect a first-quarter loss of 4 cents to 2 cents a share and a full-year loss of 15 cents to 11 cents a share. The company previously expected a quarterly loss of a penny a share to 3 cents a share and a full-year loss of 5 cents to 9 cents a share. Square said the updated guidance was related to increased interest expenses, the estimated amortization of debt discount and the issuance costs associated with selling the $1 billion worth of notes due 2025. Square stock was flat after hours and closed down 3.7% to $76.32 Thursday. The S&P 500 index fell 3.4% Thursday. Read More...
Square Inc. said late Thursday that it was updating its guidance to include the effects of the debt the payments company issued. The company said investors should expect a first-quarter loss of 4 cents to 2 cents a share and a full-year loss of 15 cents to 11 cents a share. The company previously expected a quarterly loss of a penny a share to 3 cents a share and a full-year loss of 5 cents to 9 cents a share. Square said the updated guidance was related to increased interest expenses, the estimated amortization of debt discount and the issuance costs associated with selling the $1 billion worth of notes due 2025. Square stock was flat after hours and closed down 3.7% to $76.32 Thursday. The S&P 500 index fell 3.4% Thursday.
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