Block Inc. Q3 2022 Earnings Report
Key Takeaways
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.
Gross profit grew 38% year over year to $1.57 billion.
Cash App gross profit was $774 million, up 51% year over year.
Square gross profit was $783 million, up 29% year over year.
Cash App Card actives reached nearly 18 million in September, representing over 35% of monthly actives.
Block Inc.
Block Inc.
Block Inc. Revenue by Segment
Forward Guidance
Block provided preliminary gross profit growth estimates for October 2022 and expects an increase in share-based compensation expense in Q4 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income