In its first salary document in view that going public in November, Jack Dorsey’s different company squarely beat expectations.

square, the San Francisco-based totally payment processor run with the aid of Twitter cofounder and CEO Dorsey, solidly beat expectations on Wednesday afternoon, reporting sales of $374 million, up forty nine.2% from $251 million in the yr-previous quarter.

additionally it is vastly growing the quantity of transactions it handles in total bucks, which at $10.2 billion used to be up forty seven%. earnings from its cash-advancing carrier, square Capital, and different information products greater than tripled to $22 million 12 months-over-year.

the company, which has had a tough run as a public company within the four months considering the fact that its IPO, nonetheless doesn’t make a profit with an working loss of $forty seven.8 million. And its running expenses grew fifty two% to $157 million.

In after-hours trading, square shares rose as much as 5%, neatly above its IPO value of 12%, reviews TechCrunch.