Block, Inc. (SQ) Q3 2024 Earnings Breakdown
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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.
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