secwatch.observer — SEC 8-K summary
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Issuer:     Block, Inc. (XYZ)
CIK:        0001512673
Form:       8-K
Filed at:   2022-05-05T23:59:59+00:00
Accession:  0001193125-22-142338
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1512673/000119312522142338/0001193125-22-142338-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1512673/000119312522142338/d340423d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-142338

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer