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.
Total net revenue was $1.38 billion, up 44% year over year.
Gross profit was $539 million, up 36% year over year.
Cash App gross profit grew 115% year over year.
Seller GPV was down 35% year over year during the last two weeks of the quarter.
Due to the uncertainty around the impact and severity of COVID-19, the company is not providing second-quarter or full-year 2020 revenue or earnings guidance at this time; instead, they have provided a further update on the latest trends in their business during the month of April.
Visualization of income flow from segment revenue to net income
Analyze how earnings announcements historically affect stock price performance