Block Inc. Q2 2022 Earnings Report
Key Takeaways
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.
Gross profit grew 29% year over year to $1.47 billion, up 47% on a three-year compound annual growth rate (CAGR) basis.
Square ecosystem delivered gross profit of $755 million, an increase of 29% year over year.
Cash App ecosystem delivered gross profit of $705 million, an increase of 29% year over year.
In June, there were 47 million accounts that transacted on Cash App — with increasing weekly and daily actives.
Block Inc.
Block Inc.
Block Inc. Revenue by Segment
Forward Guidance
Company expects Non-GAAP operating expenses to increase by approximately $75 million compared to the second quarter of 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income