Block Q3 FY24: where the revenue came from and where it went
The whole income statement of Block for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jul 1 – Sep 30, 2024
- Reported
- Nov 7, 2024
Revenue$5.98B
+6% year over year
Gross profit$2.25B
38% margin
Operating profit$0.32B
5% margin
Net profit$0.28B
5% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 5.98 | 100% | +6% |
| Cryptocurrency denominated | 2.43 | 41% | +0% |
| Software & data products | 1.80 | 30% | +20% |
| Transaction | 1.71 | 29% | +3% |
| Hardware | 0.04 | 0% | −13% |
| Cost of revenue | −3.73 | 62% | |
| Gross profit | 2.25 | 38% margin | +4pp |
| R&D | −0.71 | 12% | −1pp |
| Sales & marketing | −0.51 | 8% | +0pp |
| G&A | −0.48 | 8% | −1pp |
| Other | −0.23 | 4% | +0pp |
| Operating profit | 0.32 | 5% margin | +6pp |
| Tax | −0.04 | ||
| Net profit | 0.28 | 5% margin | +6pp |
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