Block, Inc. (SQ) Q3 2024 Earnings Breakdown
Description
Key Highlights
Financial Performance
Total net revenue: $5.97 billion, up 6% year-over-year
Gross profit: $2.25 billion, up 15% year-over-year
Net income: $281.1 million, compared to a net loss of $93.5 million in Q3 2023
Diluted EPS: $0.45, compared to a loss of $0.15 in Q3 2023
Segment Performance
Cash App: Revenue of $3.9 billion, up 6% year-over-year; Gross profit of $1.3 billion, up 21% year-over-year
Square: Revenue of $2 billion, up 6% year-over-year; Gross profit of $932 million, up 12% year-over-year
Business Highlights
Bitcoin Investment: Block held 8,363 bitcoins as of September 30, 2024, with a fair value of $529.6 million.
Warehouse Funding Facilities: Block has $1.5 billion in aggregate warehouse funding facilities on a revolving basis to fund its BNPL platform.
Repurchases: Block repurchased $987.2 million of Class A common stock during the nine months ended September 30, 2024.
Regulatory Matters: Block continues to engage with the CFPB and state Attorneys General regarding compliance matters related to Cash App.
Key Highlights:
Solid Execution: Deere achieved strong results across the business cycle by adjusting operations to align with the current environment.
Earnings Decline: Net income for 4Q 2024 was $1.245 billion, down 47% from $2.369 billion in 4Q 2023. Full-year net income was $7.100 billion,...
Published 11/23/24
Key Highlights:
Revenue Growth: Total net revenue increased to $3.283 billion, up from $2.978 billion in the same period of the prior year. This was primarily driven by growth in service revenue, particularly from QuickBooks Online Accounting and Online Services.
"Revenue for our Credit Karma...
Published 11/23/24