{"id":555836,"date":"2023-02-24T04:40:46","date_gmt":"2023-02-24T01:40:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/blocks-q4-bitcoin-revenue-down-7-on-crypto-price-decline\/"},"modified":"2023-02-24T04:40:46","modified_gmt":"2023-02-24T01:40:46","slug":"blocks-q4-bitcoin-revenue-down-7-on-crypto-price-decline","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/blocks-q4-bitcoin-revenue-down-7-on-crypto-price-decline\/","title":{"rendered":"# Block\u2019s Q4 Bitcoin revenue down 7% on crypto price decline"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af20d763ee70\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af20d763ee70\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/blocks-q4-bitcoin-revenue-down-7-on-crypto-price-decline\/#%E2%80%9D_Blocks_Q4_Bitcoin_revenue_down_7_on_crypto_price_decline_%E2%80%9C\" >&#8221; Block\u2019s Q4 Bitcoin revenue down 7% on crypto price decline &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Blocks_Q4_Bitcoin_revenue_down_7_on_crypto_price_decline_%E2%80%9C\"><\/span>&#8221; Block\u2019s Q4 Bitcoin revenue down 7% on crypto price decline &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>Jack Dorsey\u2019s payment company Block Inc. reported $1.83 billion of Bitcoin (BTC) revenue from its Cash <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a> business unit in the fourth quarter, representing a 7% fall from the same time last year.<\/p>\n<p>In its Q4 and full-year\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/s29.q4cdn.com\/628966176\/files\/doc_financials\/2022\/q4\/Block_Shareholder-Letter-4Q22.pdf\">results<\/a> announced on Feb. 23, Block attributed the fall in Bitcoin revenue to the decline in BTC price in the year. Bitcoin\u00a0fell approximately 65% throughout 2022.<\/p>\n<p>This fall in revenue led to a 25% year-on-year drop in Bitcoin gross profit for Cash App, which fell to $35 million in the quarter. <\/p>\n<p>Cash App is a mobile phone payment processing app created by Block, which added support for transactions via the Bitcoin Lightning Network on Oct. 25. It generates Bitcoin revenue by selling Bitcoin to customers through the app.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/5c1c580e-27b4-452d-979c-d2608d3169aa.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Cash App gross profit graph from Q4, 2021 to Q4, 2022 Source: Block Inc Q4 shareholder letter<\/em><\/figcaption><\/figure>\n<p>For the full 2022 year, Cash App generated $7.11 billion of Bitcoin revenue and $156 million of Bitcoin gross profit, down 29% and 28% compared to 2021, respectively.<\/p>\n<p>Meanwhile, Block Inc. reported a widened net loss of $114 million for the quarter compared to a loss of $77 million in 2021. Its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) increased 53% to $281 million compared to the same time last year. Total revenue in the quarter was $4.65 billion.<\/p>\n<p><strong>Related: <\/strong><strong><em>Bitcoin bears attempt to pin BTC price under $23K ahead of this month\u2019s options expiry<\/em><\/strong><\/p>\n<p>The share price of Block jumped in after-hours trading following the earnings report.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/1d35219f-eee1-4538-8244-e1829a0c5270.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Block Inc. (SQ) share price action over the last day. Source: <\/em><em>Barron\u2019s<\/em><\/figcaption><\/figure>\n<p>Some analysts have <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.marketwatch.com\/story\/blocks-stock-dips-after-earnings-as-profit-falls-short-while-outlook-meets-expectations-cddb75a2?mod=mw_quote_news\" data-amp=\"https:\/\/www-marketwatch-com.cdn.ampproject.org\/c\/s\/www.marketwatch.com\/amp\/story\/blocks-stock-dips-after-earnings-as-profit-falls-short-while-outlook-meets-expectations-cddb75a2\">attributed<\/a> the jump to the firm\u2019s gross profit growth, which was up 40% in Q4 compared to the prior year, and also beat analyst expectations.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/block-s-q4-bitcoin-revenue-down-7-on-crypto-price-decline\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Block\u2019s Q4 Bitcoin revenue down 7% on crypto price decline &#8220; Jack Dorsey\u2019s payment company Block Inc. reported $1.83 billion of Bitcoin (BTC) revenue from its Cash App business unit in the fourth quarter, representing a 7% fall from the same time last year. In its Q4 and full-year\u00a0results announced on Feb. 23, Block&#8230;<\/p>\n","protected":false},"author":1,"featured_media":555837,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/320aa23c-f76f-4420-a514-71cd9c83a7d9.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,75029,82560,75117,117,73952],"class_list":["post-555836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-lightning-network","tag-mobile-payments","tag-shares","tag-business","tag-jack-dorsey"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/555836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=555836"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/555836\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/555837"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=555836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=555836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=555836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}