Am Q1 2022 huet de Block $ 1.73 Milliarden am Bitcoin Verkaf iwwer Cash App generéiert: Grond hannert jährlechen Drop

• Block reported a geschriwen sale of $1.73 billion via Cash App during the first quarter of 2022 on Thursday. 

• During the same period, the firm also generated around $43 million worth of sales in geschriwen gross profit, according to the shareholder letter published after the close of the market. 

• The total net revenue, as revealed by Block, had an increase of 22% year-over-year, totaling $3.96 billion.

On Thursday, formerly Square, Block revealed that it did a geschriwen sale of around $1.73 billion in the first quarter of 2022 using Cash App.

According to the shareholder letter published after the market closing, in that period, $43 million worth of sales were generated in Bitcoin ass gross profit.

During the first quarter of 2022, Cash App made $1.73 billion and $43 million in geschriwen revenue and gross profit, respectively. Bitcoin revenue dropped about 51%, while Bitcoin is down 42% year over year. Bitcoin revenue and Gross profit rose by 138% and 155%, respectively, on a two-year CAGR basis, per a shareholder letter shared by Block. 

It further noted that the relative stability in Bitcoin ass price is what majorly drives the year-over-year drop in both geschriwen revenue and gross profit, whose effect can be experienced in consumer demand and trading activity in comparison to the prior-year period. 

Meanwhile, in comparison to the fourth quarter of 2021, geschriwen revenue and gross profit had been recorded to be consistent. However, there are chances that both the Bitcoin revenue and gross profit can experience in fluctuate as a consequence of the market price of Bitcoin or consumer demand.

During its first quarter, Cash App generated $2.46 billion of revenue and $624 million in gross profit.

All in all, the total net revenue of Block experienced a rise of 22% year-over-year, amounting to $3.96 billion.

Cash App generated $46 million in bitcoin gross profits after its bitcoin sales, worth $1.96 billion during the fourth quarter of 2021. Conducting annually, the geschriwen sales of the firm were just over $10 billion in 2021, indicating a gross profit of $218 million in that category.

Block will be conducting an investor call at 5 p.m. ET to discuss the results. 

Läscht Posts vum Ritika Sharma (gesinn all)