Tech
Block reports Q2 revenue down 6.6% YoY to $4.4B, $2.62B net revenue excluding bitcoin, and Cash App bitcoin revenue down 34% YoY to $1.79B; stock is down 5%+ (Nelson Wang/CoinDesk)
Nelson Wang / CoinDesk:
Block reported a 6.6% year-over-year drop in Q2 revenue to $4.4 billion, $2.62 billion in net sales excluding bitcoin, and Cash App bitcoin revenue down 34% year-over-year down to $1.79 billion; shares down 5% +– Despite beating forecasts, the payments company said its overall revenue fell due to a drop in bitcoin revenue.
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