Square tops $28 billion in payment volume as contribution from larger sellers grows

“Gross payment volume increased to $28.2 billion from $22.5 billion and came just above the FactSet consensus, which called for $27.9 billion” writes Emily Bary for Square disclosed that 55% of volume came from sellers doing more than $125,000 in annualized gross payment volume.Square said that total net revenue for its Cash App was $307 million in the quarter, while gross profit for the app was $123 million.

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