The company said gross profit for Q2 2024 was $2.2 billion, up 20% from a year earlier. Cash App gross profit was $1.3 billion (up 23%), and Square gross profit was $922.6 million (up 15%).

1. 01

   The company said gross profit for Q2 2024 was $2.2 billion, up 20% from a year earlier. Cash App gross profit was $1.3 billion (up 23%), and Square gross profit was $922.6 million (up 15%).

2. 02

   Block reported operating income of $306.6 million, net income attributable to common stockholders of $195.3 million, and Adjusted EBITDA of $759.5 million for Q2 2024. Net income included a loss of $70.1 million from the remeasurement of its bitcoin investment.

3. 03

   The company said it issued $2.0 billion in aggregate principal amount of senior unsecured notes due 2032 (the 2032 Senior Notes) in Q2 2024. It said available liquidity was $10.3 billion as of June 30, an increase of $2.5 billion from the end of 2023.

4. 04

   The company said that under the Class A common stock repurchase program its board authorized in October 2023, with a maximum of $1 billion, it had bought $798.4 million through June 30, and that purchases in Q2 totaled $389.5 million. The program was completed on July 31, and its board authorized an additional $3 billion in repurchases on July 25.

Key figures

Quarter ended June 30, 2024

Revenue

$6.2B

Operating income

$307M

Net income

$195M

EPS

$0.31

Gross profit

$2.2B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.