Contents and sources 1 sections
Key points
- Cash App gross profit rose 27%, while Square grew 14%.
Gross profit grows at Cash App and Square
Block released its third-quarter results at 4:05 p.m. Eastern Standard Time on November 3, reporting gross profit of $3.24 billion, up 22% year over year. Cash App generated $2.07 billion in gross profit, up 27%, while Square generated $1.16 billion, up 14%.[1][2]
Block reported third-quarter operating income of $428 million, up 5% year over year. Adjusted operating income was $923 million, up 92%; this non-GAAP measure uses a different calculation from operating income.[2]
Sources & further reading
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