Square Beats Earnings Estimates But Shares Fall
Square CEO Jack Dorsey

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.

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