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Square Inc posts smaller loss as transaction volumes grows

Nov 8 (Reuters) - Mobile payments company Square Inc posted a smaller third-quarter loss on Wednesday, as larger merchants increasingly used its technology to process transactions.

That San Francisco-based company's loss narrowed to $16.1 million, or 4 cents per share, from $32.3 million, or 9 cents per share, a year earlier.

Square, co-founded and led by Twitter Inc Chief Executive Jack Dorsey, said net revenue rose 33.3 percent to $585.2 million in the three months ended Sept. 30. (http://bit.ly/2hQv5pB) (Reporting by Nikhil Subba in Bengaluru; Editing by Savio D'Souza)