Quick Take

• Jack Dorsey’s Block saw nearly $2 billion in bitcoin revenue, accounting for nearly a third of its total revenues.
• The firm’s stock, ticker XYZ, was down in after market hours after missing some key expectations.

Block, Inc. (ticker XYZ), Jack Dorsey’s fintech and digital-payments giant with a significant BTC footprint, reported third-quarter earnings of $461.5 million on revenue of $6.11 billion in the period, according to its 10-Q filing with the Securities and Exchange Commission.

“Block grew gross profit 18% year over year in the third quarter, with 24% year-over-year growth in Cash App and 9% year-over-year growth in Square,” Dorsey wrote in a shareholder letter.

Shares of XYZ were down 3.7% to $70.94 at market close and down 9.6% to $64.10 after hours, according to The Block’s price page and the Wall Street Journal.

...read more at theblock.co