Bitcoin sales take up half of Squares’ total revenue in Q2 of 2019. Square posts a $7 million loss in Q2 up from $38 million in the Q1. In the recent financial report, Square a mobile payment platform posted $125 million in revenue for the concluded second quarter of 2019 in its Bitcoin sales. The firm reported that its revenue doubled from the figure of $65.5 million in Q1 2019. Moreover, the $125 million in Bitcoin sales was a record high for the company. Square links the rally from April as the driving force behind the formidable revenue growth. In addition to that, the firm achieved a $2 million gross profit in terms of volume. “Our Cash App ecosystem has reached significant scale, generating $260 million in total net revenue in the second quarter of 2019. Excluding Bitcoin, Cash App revenue was $135 million, the report details. This shows that Bitcoin brought it half of Square’s revenue. According to unaudited figures, the company spent $122.9 million to buy Bitcoin. However, in terms of total revenue and profit margins, Square posted a $7 million loss in Q2. This is a great improvement from the $38 million loss posted in Q1 of 2019. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/JPY rebounds from multi-month lows, retakes 107.00 mark and beyond FX Street 4 years Bitcoin sales take up half of Squares' total revenue in Q2 of 2019. Square posts a $7 million loss in Q2 up from $38 million in the Q1. In the recent financial report, Square a mobile payment platform posted $125 million in revenue for the concluded second quarter of 2019 in its Bitcoin sales. The firm reported that its revenue doubled from the figure of $65.5 million in Q1 2019. Moreover, the $125 million in Bitcoin sales was a record high for the company. Square links the rally from April as the driving force behind the formidable revenue growth. In… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
