CashApp Sold $1.76B Worth of Bitcoin During Q3 2022: Down 3% Year Over Year

Block reported $1.76 billion in bitcoin revenue in its Cash App unit during the third quarter, down 3% year-over-year and lower than the $1.79 billion reported in the second quarter.Cash App generated $37 million of bitcoin gross profit in the third quarter, down 12% from a year earlier.Block posted $1.57 billion in overall gross profit for the quarter, up from $1.47 billion in the second quarter. Total net revenue was $4.52 billion, up 17% year-over-year. Excluding bitcoin revenue, total net revenue was $2.75 billion, up 36% versus the prior year.Shares of Block jumped 14% in postmarket trading today.

Full Block Quarterly Results
Block Quarterly Shareholder Letter

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