Mobile-payments company Square Inc. reported a fourth-quarter loss that widened from a year earlier, as transaction costs and operating expenses offset a 49% jump in revenue.

It is the first financial report for the company, founded by Twitter Inc. Chief Executive Jack Dorsey, since it went public in November. With its plastic device, Square enables anyone with a smartphone to accept payment via a credit or debit card.

The company's stock has sputtered since its IPO, dropping amid a tough market for tech startups, but it has jumped more than 40% from last year's low in part thanks to the 10% stake Visa Inc. revealed last month.

For the fourth quarter, Square reported a loss of $80.5 million, wider than its year-earlier loss of $37.1 million. On a per-share basis, the company posted a loss of 34 cents a share compared with 25 cents a year earlier.

Revenue climbed 49% to $374.4 million. Analysts had projected an adjusted per-share loss of 13 cents a share and $343.2 million in revenue, according to Thomson Reuters.

Increases in free processing credits pressured transaction revenue as a part of gross payment volume. Square noted that, by quarter-end, it will have shipped all remaining units in its preorder backlog for its contactless and chip reader. Most of those readers included a promotional credit.

For the first quarter, Square expects to report adjusted sales of $132 to $137 million. For the year, adjusted revenue is expected between $600 million and $620 million. Adjusted revenue in the fourth quarter was $135 million, up 64%.

Shares of Square rose 3.5% after hours to $12.45.

Write to Lisa Beilfuss at lisa.beilfuss@wsj.com

(END) Dow Jones Newswires

March 09, 2016 17:05 ET (22:05 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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