Digital payments company Square Inc. (SQ) beat earnings estimates for the fourth quarter of 2017 but its share were falling after the close on Tuesday.
Square reported earnings of $0.08 per share on a non-GAAP basis, beating consensus estimates of $0.07. Adjusted revenue was $283 million, compared to analysts' expectations of $266.5 million.
The company guided for adjusted earnings per share of $0.03 to $0.05 in the first quarter of 2018 vs. analyst estimates of $0.08. For the entire year, though, Square expects EPS of $0.43 to $0.47, in line with estimates of $0.45.
Square CEO Jack Dorsey emphasized the strength of its peer-to-peer Cash app in a letter to shareholders. Square recently added new services to the Cash app, including a feature allowing users to buy and sell Bitcoin that's generated a lot of buzz, as well as a Visa debit card to withdraw funds from the app.
Shares initially rose in after-hours trading on Tuesday but then were declining slightly. The company is hosting an earnings call with investors at 5 p.m. ET.