Square reported lower-than-expected revenue for the third quarter as less volatile pricing for bitcoin impacted demand, though the company's chief financial officer noted "strength" in volume during October.

The company posted a break-even third quarter, after earning $37m, or 7 cents a share, in the year-earlier quarter. On an adjusted basis, Square 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. The fintech company grew revenue to $3.84bn from $3.03bn, while analysts had been modelling $4.39bn.