earnings
confidence high
sentiment positive
materiality 0.75
Block Q3 gross profit $2.25B (+19% YoY); adj EBITDA $807M (+69%)
Block, Inc.
2024-Q3 EPS reported
$1.50
revenue$18,088,492,000
- Gross profit $2.25B, up 19% YoY; Square $932M (+16%), Cash App $1.31B (+21%).
- Net income $284M; Adjusted EBITDA $807M, up 69% YoY; Operating income $323M.
- Total revenue $5.98B (+6%); ex-bitcoin revenue $3.55B (+11%).
- Cumulative loans >$22B with loss rates <3%; BNPL ~1%, Borrow <3%, Square loans ≤4%.
- Lending ROIC: Square Loans 22%, Afterpay 34%, Cash App Borrow 33%; avg duration <150 days.