Payment processing company, Square has posted another loss in its second quarterly earnings report since it went public at the end of last year.

The company led by Twitter CEO, Jack Dorsey, posted a quarterly loss of 14 cents a share on $379 million in revenue compared with consensus forecasts of a loss of 9 cents on $344 million in revenue.

The company’s shares exhibited choppy price action immediately following the report’s release and were down by as much as 13% during the after-hours session.

There was better news on the company’s guidance for the current quarter but not enough to lift sentiment towards the stock. Square raised its 2016 guidance to reflect expectations of between $8 million and $14 million in full-year EBITDA or earnings before interest, taxes, depreciation and amortization.

According to Dorsey, "The core business is really strong. The small-business economy and moving upmarket towards medium-sized businesses has always been our sweet spot and we are seeing a lot more growth in the midmarket and up-market opportunity.”

Hardeep Sandhu, chief economist at Tokyo-based investment house, Shinsei Corporate Management said that he was less optimistic. “Mr. Dorsey is spread pretty thin at the moment with his duties at Twitter which is still not out of the woods despite some minor improvements in its last earnings report. Square certainly has its work cut out not least trying to foster uptake of its technology within the medium sized businesses amid so much competition.”

Shinsei Corporate Management maintained a hold rating on Square’s stock warning of further downside potential.

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