Square, the mobile payments company co-founded and run by Twitter Chief Executive Jack Dorsey, reported a 41.5% jump in quarterly revenue as more transactions were processed through the company’s network.
The company’s (SQ) net revenue rose to $438.5 million in the second quarter ended June 30, from $310.0 million a year earlier.
The net loss narrowed to $27.3 million from $29.6 million.
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On a per share basis, Square lost eight cents.
For more about Jack Dorsey’s dual roles at Twitter and Square, watch:
Square, which went public in November, facilitates payments between businesses and customers with a credit card reader that turns any mobile phone into a payment terminal. The company also makes point-of-sale registers and chip-enabled card readers.