Square, Inc. (SQ) saw its loss narrow to $15.17 million, or $0.04 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $48.29 million, or $0.34 a share. On an adjusted basis, net profit for the quarter stood at $20.77 million, or $0.05 a share compared with a net loss of $12.48 million, or $0.05 a share in the last year period. Revenue during the quarter grew 20.72 percent to $451.92 million from $374.36 million in the previous year period. Gross margin for the quarter expanded 771 basis points over the previous year period to 36.85 percent. Operating margin for the quarter stood at negative 3.09 percent as compared to a negative 12.77 percent for the previous year period.
Operating loss for the quarter was $13.98 million, compared with an operating loss of $47.82 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $29.79 million compared to negative $6.07 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at 6.59 percent for the quarter compared to negative 1.62 percent in the last year period.
For fiscal year 2017, Square, Inc. forecasts revenue to be in the range of $2,090 million to $2,150 million and adjusted revenue to be in the range of $880 million to $900 million. The company expects diluted loss per share to be in the range of $0.24 to $0.20. It company expects diluted earnings per share to be in the range of $0.15 to $0.19 on adjusted basis.
For the first-quarter 2017, Square, Inc. forecasts revenue to be in the range of $440 million to $452 million and adjusted revenue to be in the range of $190 million to $193 million.The company expects diluted loss per share to be in the range of $0.09 to $0.07.
Operating cash flow improves
Square, Inc. has generated cash of $23.13 million from operating activities during the year, up 9.51 percent or $2.01 million, when compared with the last year.
The company has spent $122.73 million cash to meet investing activities during the year as against cash outgo of $45.10 million in the last year.
Cash flow from financing activities was $90.74 million for the year, down 65.73 percent or $174.02 million, when compared with the last year.
Cash and cash equivalents stood at $452.03 million as on Dec. 31, 2016, down 2.02 percent or $9.30 million from $461.33 million on Dec. 31, 2015.
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