Block Inc. reported an increase in third-quarter earnings, with total net revenue climbing to $5.62 billion, marking a 24% year-over-year growth. Setting aside its bitcoin operations, the company’s revenue saw a jump to $3.19 billion, up 16% from the previous year. The firm’s shareholder letter discloses that bitcoin revenue rose to $2.42 billion, underscoring the…
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Bitcoin profits on Block’s Cash App dropped slightly from the first quarter of 2023 but remain up 7% from this time last year. Shares in payment technology firm Block Inc. tumbled after hours despite its second-quarter results beating earnings expectations, including a 34% year-on-year increase in Bitcoin (BTC) revenue. In a Q2 earnings call, Block…
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Block’s Q1 earnings report reveals a 25% year-on-year increase in Bitcoin revenue from the fintech firm’s flagship product Cash App. Fintech firm Block, owned by Twitter founder Jack Dorsey, has reported a staggering $2.16 billion in Bitcoin (BTC) revenue on its bellwether product Cash App in Q1. According to a shareholder letter announcing its Q1,…
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