Block said 2024 gross profit was $8.9 billion, up 18% year over year, with Cash App gross profit of $5.2 billion, up 21%, and Square gross profit of $3.6 billion, up 15%.

1. 01

   Block said 2024 gross profit was $8.9 billion, up 18% year over year, with Cash App gross profit of $5.2 billion, up 21%, and Square gross profit of $3.6 billion, up 15%.

2. 02

   The company said 2024 operating income was $892.3 million, compared to an operating loss of $278.8 million in 2023, and Adjusted EBITDA was $3.0 billion. Net income for 2024 included one-time tax benefits of $1.9 billion from the release of valuation allowance and other deferred tax items.

3. 03

   Block said it issued $2.0 billion in aggregate principal amount of 2032 Senior Notes in Q2 2024, ended the year with $10.7 billion in available liquidity, comprised of $9.9 billion in cash, cash equivalents, restricted cash, and investments in marketable debt securities, and $775.0 million available under its undrawn revolving credit facility.

4. 04

   The company said its board of directors increased the share repurchase authorization to $4 billion on July 25, 2024, and as of December 31, 2024 it had repurchased $1.3 billion of Class A common stock under the program, of which $1.2 billion was purchased in 2024.

Key figures

Fiscal year ended December 31, 2024

Revenue

$24.1B

Operating income

$892M

Net income

$2.9B

EPS

$4.56

Gross profit

$8.9B

Operating cash flow

$1.7B

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.