Why Square Stock Popped 7.9% on Friday
Shares of digital financial stock Square (NYSE: SQ) jumped as much as 7.9% in trading on Friday after reporting first-quarter 2021 financial results. The stock held steady most of the day and is up 5.6% at 1:10 p.m. EDT.
Total revenue jumped from $1.38 billion a year ago to $5.06 billion, primarily on the back of a more than ten-fold increase in Bitcoin (CRYPTO: BTC) revenue to $3.51 billion. Transaction-based revenue was up 26.6% to $959.7 million, and subscription and service-based revenue jumped 88.3% to $557.7 million.
Image source: Square.
Source Fool.com
