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Jun 30, 2023
Block Inc. Q2 2023 Earnings Report
Delivered strong growth and profitability at scale.
Key Takeaways
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.
Gross profit grew 27% year over year to $1.87 billion.
Square ecosystem delivered gross profit of $888 million, an increase of 18% year over year.
Cash App ecosystem delivered gross profit of $968 million, an increase of 37% year over year.
Net loss attributable to common stockholders was $123 million and Adjusted EBITDA was $384 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Block anticipates Non-GAAP operating expenses to be $1.55 billion for Q3 2023. The company has updated its 2023 outlook, projecting adjusted EBITDA of $1.5 billion and adjusted operating income of $25 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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