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Bitcoin demand slowed in Q3 but surged in October

Mohamed Abdelhamid 5 November, 2021 4:37 am Cryptocurrency, Market Update

Square Inc. reported, Thursday, lower-than-expected revenue for Q3 as less volatile pricing for bitcoin has a significant impact on demand, though the company’s chief financial officer noted “strength” in volume during October.

The company posted a break-even Q3, after earning $37 million, or 7 cents a share, in the year-earlier quarter.

On an adjusted basis, Square SQ earned 37 cents a share, up from 34 cents a share a year earlier, while analysts tracked by FactSet were expecting 38 cents a share.

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