Jack Dorsey's Block, Inc. reported its Q3 earnings, with gross profit for Block at $1.90B (+21% YoY), Cash App at $984M (+27% YoY), and Square at $899M (+15% YoY). Approximately 43% of Block's total $5.6B revenue comes from Bitcoin. Block's Q3 Bitcoin gross profit increased by 22% YoY to reach $45 million, contributing to a 24% increase in overall net revenue year-over-year. Additionally, Block sold $2.42 billion worth of Bitcoin to customers through Cash App in Q3, accounting for 40% of its total revenue. The increase in Bitcoin revenue and gross profit was attributed to the rise in both the average market price of Bitcoin and the quantity of Bitcoin sold to customers.
"Last quarter, Block pulled in $2.42 billion in revenue from bitcoin sales to customers, up 37% year-over-year" https://t.co/vnB6QlMiyt. https://t.co/I62SKnpaZs
Block’s Q3 Earnings Show $2.42 Billion Bitcoin Revenue, Marking 37% Annual Growth https://t.co/X0s7J57e5O
ICYMI: Block’s Q3 bitcoin gross profit jumps 22% year-over-year to reach $45 million https://t.co/cPSGvOzLW6
#Coinbase Turns the Tide: Q3 Earnings Show Net Profit Amid #Crypto Market Slump https://t.co/8KS3PTuxv4
Block, Inc. saw a 37% rise in Q3 Bitcoin revenue, contributing to a 24% increase in overall net revenue year-over-year https://t.co/tT59P27hlz
“The year-over-year increase in Bitcoin revenue and gross profit was driven by an increase in both the average market price of #Bitcoin and the quantity of Bitcoin sold to customers,” @blocks said in its Q3 earning report. Read more below: https://t.co/VkLA1ExL7y
NEW: Financial giant Block sold $2.42 billion worth of #Bitcoin to customers through Cash App in Q3 That's 40% of Block's total revenue 🤯 https://t.co/ojni67JMUp
NEW: Jack Dorsey's Block Q3 earnings report: - Block's gross profit at 💵 $1.90B (+21% YoY) - Cash App's gross profit at 💵 $984M (+27% YoY) - Square's gross profit at 💵 $899M (+15% YoY) ~43% of Block's total $5.6B revenue comes from #Bitcoin https://t.co/CRBIVA3Q4z
NEW: Jack Dorsey's Block Q3 earnings report: - Block's gross profit at 💵 $1.90B (+21% YoY) - Cash App's gross profit at 💵 $984M (+27% YoY) - Square's gross profit at 💵 $899M (+15% YoY) ~43% of Block's total $5.6B revenue comes from #Bitcoin https://t.co/in5dYkgAUA
Block's Q3 bitcoin gross profit jumps 22% year-over-year to reach $45 million https://t.co/cJwl7KYFLy