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Cash app now makes up the majority of Block's revenue. https://s29.q4cdn.com/628966176/files/doc_financials/2022/q4/f0d4876f-97d5-495a-b76b-1316e79608b9.pdf ht

• ac29 4y ago
  Revenue yes, profit no (though profitability is very close to evenly split).
• appleiigs 4y ago
  For revenues, Square is $7B vs Cash App is $10B. However, the gross profit is both Square and Cash App are $3B.
• rossdavidh 4y ago
  Very interesting, thanks for pointing me to that document. It does show Square with +29% growth in net revenue (+30% profit growth), whereas Cash App shows 14$ decline in revenue. They managed to still get profit growth in Cash App by cutting cost of revenue even faster than their revenue dropped, but that does not seem to bode well for Cash App being able to sustain greater KYC due diligence, etc. I think they may have a better future in the Square-related business than in the Cash App part, especially if fed pressure on them to do more KYC in Cash App grows (which I would guess it will).
  • rossdavidh 4y ago
    "Cash App shows 14%" rather than "14$", obviously, but it's too late to edit now. :)