Square Isn’t Just for Start-Ups
While small traders continue to benefit from Square products, the company’s penetration of larger merchants has also continued to grow, hitting a milestone in the second quarter. The company’s operating expenses rose 45% YoY (year-over-year) to $318 million in the second quarter, driven by sharp increases in product development and marketing costs. Product development costs were $115 million in the second quarter, up 47% from a year ago.