---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-129385"
form_type: "8-K"
ticker: "XYZ"
cik: "0001512673"
company_name: "Block, Inc."
filed_at: "2024-05-02T23:59:59+00:00"
generated_at: "2026-06-03T00:23:02.675976+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Block Q1 gross profit up 22% to $2.09B; net income $472M; new bitcoin purchase policy

## Summary
- Gross profit $2.09B (+22% YoY); Cash App $1.26B (+25%), Square $820M (+19%).
- Net income $472M; Adjusted EBITDA $705M (+91% YoY).
- Total net revenue $5.96B (+19%); ex-bitcoin revenue $3.23B (+14%).
- Bitcoin remeasurement gain $233M; treasury bitcoin value grew ~160% to $573M.
- New policy: monthly invest 10% of gross profit from bitcoin products into bitcoin purchases.

## SEC filing metadata
- accession: 0001193125-24-129385
- form_type: 8-K
- ticker: XYZ
- cik: 0001512673
- company_name: Block, Inc.
- filed_at: 2024-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1512673/000119312524129385/0001193125-24-129385-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1512673/000119312524129385/d831696d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-129385
- JSON: https://secwatch.observer/filing/0001193125-24-129385.json
- Plain text: https://secwatch.observer/filing/0001193125-24-129385.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.