Block Q1 gross profit $1.29B, up 34% YoY; Cash App GP $624M, Square GP $661M

Block, Inc.

2022-Q1 EPS reported -$0.38 revenue$3,960,645,000

Gross profit $1.29B, up 34% YoY; Cash App gross profit $624M (+26%), Square gross profit $661M (+41%).
Total net revenue $3.96B, down 22% YoY; ex-bitcoin revenue $2.23B, up 44% YoY.
Completed Afterpay acquisition on Jan 31, 2022; allocating 50% of Afterpay revenue/GP to each segment.
Bitcoin: over 10M Cash App accounts have purchased bitcoin since launch.
Incurred $42M Afterpay deal/integration costs and $31M amortization of acquired intangibles in Q1.

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