Cash App, a major peer-to-peer payment service, is wholly owned by Block (formerly Square). As of Q1 2024, Cash App generated $1.26 billion in gross profit, surpassing Square's $820 million ...

Financial Results Total gross profit rose to $2.29 billion, up 9% year-over-year, with Square contributing significant gains from GPV and banking attach rates. Cash App's gross profit growth was ...

Block earned a total profit of $1.18 billion on its Cash App business last year, up 25% year over year, including non-bitcoin sales, while Square generated a gross profit of $828 million.

The digital payments company lowered fiscal 2025 guidance for Square stock amid weakness in the consumer Cash App business. Block stock plunged Friday on the news.

Block's gross profit beat was driven primarily by Cash App, while Square trends were "only modestly better," Hone wrote in a note. "While many investors anticipated strong margin improvement, SQ ...

Feds probing financial transactions at Jack Dorsey’s Square, Cash App: report By Reuters Published May 1, 2024, 12:41 p.m. ET ...

The app’s financial services account for 38%, and instant deposit 29%, with other services, including Cash App’s Bitcoin wallet, accounting for the balance. For the quarter, Block recorded a 24% ...

Final Takeaway Block, Inc. reported solid Q1 results and outlined plans to accelerate growth in H2 2025, driven by Square's market share gains and Cash App's Borrow and Afterpay initiatives.