Stock Alert: Square Climbs To New 52-week High After Q2 Results

(RTTNews) - Shares of Square Inc. (SQ) are rising more than 14 percent or $19.75 in Wednesday's morning trade at $156.58, after earlier touching a new 52-week high of $158.43 as the payment processor reported increase in revenue for the second quarter.

Tuesday, Square reported net loss for the second quarter of $11.48 million or $0.03 per share, wider than net loss of $6.74 million or $0.02 per share in the year-ago period. However, on adjusted basis, it reported profit of $0.18, compared to $0.21 per share in the prior-year period.

Total net revenue grew 64 percent to $1.92 billion from $1.17 billion a year ago.

Square has traded in a range of $32.33 to $158.43 in the past 52 weeks.