==Block (SQ) reported earnings on Thur 3 Nov 22 (a/h)

 

 Block beats by $0.19, beats on revs

• Reports Q3 (Sep) earnings of $0.42 per share, $0.19 better than the S&P Capital IQ Consensus of $0.23; revenues rose 17.6% year/year to $4.52 bln vs the $4.47 bln S&P Capital IQ Consensus.
• Gross profit grew 38% year over year to $1.57 billion, up 46% on a three year compound annual growth rate (CAGR) basis. Excluding our BNPL platform, gross profit was $1.42 billion, up 25% year over year and 42% on a three-year CAGR basis.
• Cash ecosystem delivered gross profit of $774 million an increase of 51% year over year and, excluding our BNPL platform, 37% year over year.
• Cash App generated $2.68 billion of revenue and $774 million of gross profit. On a year-over-year basis, Cash App revenue and gross profit grew 12% and 51%, respectively, and on a three-year CAGR basis, Cash App revenue and gross profit grew 106% and 84%, respectively.
• Excluding bitcoin and our BNPL platform, Cash App revenue was $817 million, up 41% year over year and 73% on a three-year CAGR basis.
• BNPL platform contributed $105 million of revenue and $75 million of gross profit to Cash App in the third quarter of 2022.