The company said gross profit for Q3 2024 was $2.2 billion, up 19% from a year earlier. Cash App gross profit rose 21% to $1.3 billion, and Square gross profit rose 16% to $932.4 million.

1. 01

   The company said gross profit for Q3 2024 was $2.2 billion, up 19% from a year earlier. Cash App gross profit rose 21% to $1.3 billion, and Square gross profit rose 16% to $932.4 million.

2. 02

   Block said operating income for Q3 2024 was $323.0 million, Adjusted Operating Income was $443.5 million, and Adjusted EBITDA was $807.5 million. In Q3 2023, it reported an operating loss of $9.9 million and Adjusted EBITDA of $477.5 million.

3. 03

   The company said bitcoin accounted for 41% of total revenue in Q3 2024, but bitcoin generated only 3% of total gross profit. Total revenue rose $358.3 million (6%) over the same period a year earlier.

4. 04

   Block said on September 30, 2024 that its available liquidity was approximately $10.7 billion, consisting of $9.9 billion in cash, restricted cash and marketable debt securities and an undrawn $775.0 million under its revolving credit facility. Its share repurchase authorization increased to a total of $4 billion, of which $1.1 billion had been executed.

Key figures

Quarter ended September 30, 2024

Revenue

$6.0B

Operating income

$323M

Net income

$284M

EPS

$0.45

Gross profit

$2.3B

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.