In this video, I will go over Block's (SQ -0.83%) Q1 earnings report and touch on a couple of points it raised during the call. The company reported a miss on earnings per share and revenue, but the stock is still up.
- The company reported total net revenue of $3.96 billion in the first quarter of 2022, down 22% year over year (YOY), missing estimates by $180 million.
- Excluding Bitcoin, total net revenue in the first quarter was $2.23 billion, up 44% YOY.
- Bitcoin revenue was $1.73 billion, down 51% YOY, and Bitcoin gross profit was only $43 million.
- International expansion remains the company's top priority.
For the full insights, do watch the video, consider subscribing, and click the special offer link below.
*Stock prices used were the closing prices of May 5, 2022. The video was published on May 6, 2022.