Block, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 04, 2022 at 04:23 pm EDT
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Block, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported revenue was USD 4,404.5 million compared to USD 4,680.67 million a year ago. Net loss was USD 208.01 million compared to net income of USD 204.02 million a year ago. Basic loss per share from continuing operations was USD 0.36 compared to basic earnings per share from continuing operations of USD 0.45 a year ago. Diluted loss per share from continuing operations was USD 0.36 compared to diluted earnings per share from continuing operations of USD 0.4 a year ago.
For the six months, revenue was USD 8,365.14 million compared to USD 9,737.94 million a year ago. Net loss was USD 412.21 million compared to net income of USD 243.03 million a year ago. Basic loss per share from continuing operations was USD 0.73 compared to basic earnings per share from continuing operations of USD 0.53 a year ago. Diluted loss per share from continuing operations was USD 0.73 compared to diluted earnings per share from continuing operations of USD 0.48 a year ago.
Block, Inc. is focused on creating ecosystems for distinct customer audiences. The Company operates through two segments: Square and Cash App. Square segment includes managed payment services, software solutions, hardware, and financial services offered to sellers, excluding those that involve Cash App. Square is a cohesive commerce ecosystem that helps sellers start, run, and grow their businesses, including enabling sellers to accept card payments, provide reporting and analytics, and facilitating next-day settlement. Cash App segment includes the financial tools available to individuals within the mobile Cash App, including peer-to-peer payments, bitcoin and stock investments. Cash App also includes Cash App Card, which is linked to customer stored balances that customers can use to pay for purchases or withdraw funds from an ATM. Cash App also includes the BNPL platform. Its bitcoin ecosystem includes TBD, which is an open developer platform.
BLOCK, INC. 
