Square Reports Fourth Quarter Loss of $48.3 Million in First Earnings Report

SAN FRANCISCO (AP)--Square Inc. (SQ) on Wednesday reported a loss of $48.3 million in its fourth quarter.

On a per-share basis, the San Francisco-based company said it had a loss of 34 cents.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.

The mobile payments services provider posted revenue of $374.4 million in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $341.1 million.

For the year, the company reported profit of $179.8 million, or $1.24 per share. Revenue was reported as $1.27 billion.

Square shares have declined 8 percent since the beginning of the year.