Block Q2 2024: gross profit up 20% YoY to $2.23B, adj EBITDA up 98%, authorizes $3B buyback

Block, Inc.

2024-Q2 EPS reported $1.05 revenue$12,112,691,000

Gross profit $2.23B, up 20% YoY; Square GP $923M (+15%), Cash App GP $1.30B (+23%).
Net income $195M; Adj Operating Income $399M; Adj EBITDA $759M (+98% YoY).
Board authorized $3B share repurchase, expanding on prior $1B program.
Nick Molnar (Afterpay co-founder) to lead centralized sales across Block, reporting to CEO.
New Square onboarding platform completed July 2024, reducing steps from 30 to 4.

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