Block Inc. Earnings Reports

Block Inc. delivered solid financial results in Q4 2024, with revenue of $6.03 billion and a net income of $1.95 billion, benefiting from one-time tax adjustments. Operating income stood at $13 million, while adjusted EPS was reported at $0.71. Cash App and Square segments contributed significantly to growth, with gross profit up 16% and 12% YoY, respectively.

In Q3 2024, Block Inc. reported a 19% year-over-year increase in gross profit, reaching $2.25 billion. The company also saw improvements in operating income and net income. Cash App and Square both contributed to this growth, with Cash App showing a 21% increase in gross profit and Square a 16% increase.

Block Inc. reported strong Q2 2024 results with gross profit up 20% year-over-year to $2.23 billion. Both Square and Cash App showed significant growth, and the company is on track to reach Rule of 40 by 2026. Key initiatives include improving Square's go-to-market approach and expanding Cash App's financial services.

In Q1 2024, Block Inc. reported a 22% year-over-year increase in gross profit, reaching $2.09 billion, driven by strong performances in both Cash App and Square ecosystems. Operating income was $250 million, with Adjusted Operating Income at $364 million. Net income attributable to common stockholders was $472 million, with Adjusted EBITDA up 91% year over year to $705 million.

Block Inc. reported a 24% increase in total net revenue to $5.77 billion for Q4 2023. Gross profit grew by 22% year-over-year to $2.03 billion. Cash App's gross profit increased by 25% year-over-year to $1.18 billion, and Square's gross profit increased by 18% year-over-year to $828 million. Net income attributable to common stockholders was $178 million, and Adjusted EBITDA was $562 million, up 2x year over year.

In Q3 2023, Block Inc. reported a 24% increase in total net revenue to $5.62 billion and a 21% increase in gross profit to $1.90 billion. Cash App's gross profit rose by 27% year-over-year to $984 million, while Square's gross profit increased by 15% to $899 million.

In the second quarter of 2023, Block Inc. reported strong growth and profitability. Gross profit increased by 27% year-over-year to $1.87 billion, with Square's gross profit up 18% and Cash App's gross profit up 37%. The company's operating loss was $132 million, while adjusted operating income was $25 million. Net loss attributable to common stockholders was $123 million, and adjusted EBITDA reached $384 million.

Block Inc. reported a 26% year-over-year increase in total net revenue, reaching $4.99 billion. Gross profit grew by 32% year-over-year to $1.71 billion. The Cash App ecosystem saw a 49% year-over-year increase in gross profit, while the Square ecosystem grew by 16%.

Block Inc. reported a 14% increase in total net revenue to $4.65 billion and a 40% increase in gross profit to $1.66 billion for the fourth quarter of 2022. The company is focused on balancing growth and efficiency, prioritizing speed, agility, and accountability.

In Q3 2022, Block Inc. reported a 17% year-over-year increase in total net revenue, reaching $4.52 billion. Excluding bitcoin revenue, total net revenue grew by 36% year over year to $2.75 billion. The company's gross profit increased by 38% year over year to $1.57 billion.

Block Inc. reported a total net revenue of $4.40 billion, a decrease of 6% year over year. However, excluding bitcoin revenue, total net revenue was $2.62 billion, up 34% year over year. Gross profit was $1.47 billion, up 29% year over year.

Block Inc. reported a decrease in total net revenue by 22% year over year to $3.96 billion, driven by a decrease in bitcoin revenue, while gross profit increased by 34% year over year to $1.29 billion. The company completed the acquisition of Afterpay and saw contributions from both Cash App and Square ecosystems.

Block Inc. reported a total net revenue of $4.08 billion, up 29% year over year. Gross profit was $1.18 billion, up 47% year over year. Cash App generated gross profit of $518 million, up 37% year over year, while the Square ecosystem generated gross profit of $657 million, up 54% year over year.

In the third quarter of 2021, Block Inc. reported a total net revenue of $3.84 billion, a 27% increase year-over-year. Gross profit was $1.13 billion, up 43% year-over-year.

Block Inc. reported strong growth in the second quarter of 2021. Total net revenue increased by 143% year-over-year to $4.68 billion, and gross profit grew by 91% year-over-year to $1.14 billion. The Cash App ecosystem and Seller ecosystem were key drivers of this growth.

Block Inc. reported strong growth in Q1 2021, with total net revenue up 266% year over year to $5.06 billion and gross profit up 79% year over year to $964 million. The Cash App ecosystem delivered gross profit growth of 171% year over year, and the Seller ecosystem saw gross profit increase by 32%.

Block Inc. reported a total net revenue of $3.16 billion, up 141% year over year, and gross profit of $804 million, up 52% year over year. Cash App's gross profit increased by 162%, while the Seller ecosystem's gross profit increased by 13%.

Block Inc. reported a significant increase in total net revenue, reaching $3.03 billion, up 140% year over year. Gross profit also saw substantial growth, increasing by 59% year over year to $794 million. The Cash App ecosystem demonstrated strong performance, with gross profit up 212% year over year. Net income was $37 million.

In Q2 2020, Block Inc. reported a 64% year-over-year increase in total net revenue, reaching $1.92 billion, and a 28% increase in gross profit, amounting to $597 million. Cash App's gross profit surged by 167% year-over-year, while the Seller ecosystem's gross profit decreased by 9%.

Block Inc. reported a total net revenue of $1.38 billion for Q1 2020, up 44% year over year. Cash App gross profit grew 115% year over year, while Seller GPV was down 35% year over year during the last two weeks of the quarter due to COVID-19 impacts.

In the fourth quarter of 2019, Square's total net revenue grew 41% year over year to $1.31 billion, and gross profit grew 39% year over year to $527 million. Net income was $391 million, which included a gain of $373 million from the sale of Caviar. Excluding the gain on sale, net income was $17 million.