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Square qtrly profit jumps nearly 50%

Nov 6 (Reuters) - Payments processor Square Inc reported a near 50% rise in third-quarter profit on Wednesday, as the company benefited from growth in its subscription and services business.

The company, founded and led by Twitter Inc Chief Executive Officer Jack Dorsey, said net income rose to $29.4 million, or 6 cents per share, in the quarter ended Sept. 30, from $19.6 million, or 4 cents per share, a year earlier. (https://bit.ly/2Nq3jAx)

Total net revenue rose to $1.26 billion from $882.1 million. (Reporting by C Nivedita in Bengaluru; Editing by Shailesh Kuber)