Block Announces First Quarter 2024 Results
May 02 2024 - 3:10PM
Business Wire
Block, Inc. (NYSE: SQ) has posted its results for the first
quarter of 2024 on the Financials section of its Investor Relations
website at investors.block.xyz and filed these results with the
Securities and Exchange Commission.
Block will host a conference call and earnings webcast at 2:00
p.m. Pacific Time/5:00 p.m. Eastern Time today to discuss these
financial results. To register to participate in the conference
call, please visit the Events & Presentations section of
Block’s Investor Relations website at investors.block.xyz.
Block also announced today a strategic investment into bitcoin
following numerous positive developments both within the company
and in the broader market. In April, Block implemented a bitcoin
dollar cost average (DCA) purchase program that will run through
2024. Under the program, Block will be investing 10% of its gross
profit from bitcoin products into bitcoin purchases.
Aligned with the company’s purpose, Block believes that bitcoin
is an instrument of economic empowerment, providing a way for
individuals to participate in a global monetary system and control
their own financial future. In a new memo, Block has outlined its
strategy for company owned bitcoin held for investment purposes,
including its historical purchase execution, storage mechanics, and
insurance and accounting considerations. The company plans to
assess its aggregate investment in bitcoin relative to its other
investments on an ongoing basis.
About Block Block, Inc. (NYSE: SQ) (formerly,
Square, Inc.) is a global technology company with a focus on
financial services. Made up of Square, Cash App, TIDAL, and TBD, we
build tools to help more people access the economy. Square makes
commerce and financial services easy and accessible for sellers
with its integrated ecosystem of technology solutions. With Cash
App, anyone can easily send, spend, or invest their money in stocks
or bitcoin. Afterpay brings Square and Cash App together,
connecting consumers and businesses. Artists use TIDAL to help them
succeed as entrepreneurs and connect more deeply with fans. TBD is
building an open source platform and developer infrastructure that
enables everyone to access and participate in the global
economy.
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