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Square is worth almost as much as that other company Jack Dorsey runs

A tale of two companies, one CEO.

Jack Dorsey wears sunglasses and speaks into a handheld microphone onstage at Cannes. Francois Durand/Getty Images for Twitter
Rani Molla is a senior correspondent at Vox and has been focusing her reporting on the future of work. She has covered business and technology for more than a decade — often in charts — including at Bloomberg and the Wall Street Journal.

Ahead of Twitter’s earnings tomorrow, things aren’t looking good for CEO Jack Dorsey’s social media company.

Analysts expect a nearly 5 percent decline in revenue this quarter and only small growth in monthly active users. Twitter’s stock is down about 5 percent this week — and about 35 percent below its IPO price.

But things are looking up for Dorsey’s other venture, Square — of which he is also the CEO. Since its disappointing IPO in November 2015, Square has consistently posted solid financial results. In a surprise to many who did not believe the hype, the company is thriving.

Currently, Square is worth about $12.5 billion — just $130 million shy of Twitter’s market cap at the time of publication. That’s a difference of about 1 percent of Twitter’s value. If Twitter’s stock price continues to decline or if earnings send the stock down further, Square will likely surpass Twitter’s value.

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