February 27, 2019 / 9:13 PM / 6 months ago

Payments Processor Square reports bigger quarterly loss

Feb 27 (Reuters) - Payments processor Square Inc reported a bigger fourth-quarter loss on Wednesday, as product development and marketing expenses jumped.

The company, founded and led by Twitter Inc Chief Executive Officer Jack Dorsey, said net loss widened to $28.2 million, or 7 cents per share, in the quarter ended Dec. 31, from $15.7 million, or 4 cents per share, a year earlier. (bit.ly/2tI4MaK)

Total revenue surged 51 percent to $932.5 million. (Reporting by Bharath Manjesh in Bengaluru)

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