US financial service company Square (NYSE:SQ) just announced that its Q3 Bitcoin (available on Coinbase) (BTC) revenue jumped up from its previous earnings in Q2. Square detailed its full company earnings in a shareholder letter released yesterday.
In the third quarter of 2018, we continued to drive sTron (available on Binance)g growth at scale. $SQ https://t.co/HPhSMfVgac
— Square IR (@SquareIR) November 7, 2018
Bitcoin (available on Coinbase) (BTC) Revenue Q3 2018
Square released a full digest of its total earning and financial activities. The release was far more colorful and interactive than most public companies’ earnings reports. It included various pie charts, graphs, and diagrams, uncommon in the earnings space.
Earlier this year, the newly public company introduced Bitcoin (available on Coinbase) support in its Square Cash payment app. Compared to Q2, cryptocurrency revenue grew $6 million in Q3.
“Total net revenue was $882 million in the third quarter of 2018, up 51% year over year. This includes $43 million of Bitcoin (available on Coinbase) revenue,” the report reads.
Square has been on the rise lately, as its market cap just passed Twitter’s this week. Coincidentally, Jack Dorsey is CEO of both companies. While media interest may be down in cryptocurrency this year, this earnings report shows that there is still interest in the crypto space.