Financial services company Block, Inc. (NYSE: SQ), previously known as Square, Thursday reported an increase in third-quarter adjusted earnings, aided by strong top-line performance.
Third-quarter earnings, adjusted for one-off items, increased to $0.42 per share from $0.25 per share in the corresponding quarter of last year. On an unadjusted basis, the company reported a net loss of $14.71 million or $0.02 per share for the most recent quarter, compared to a profit of $0.084 million in the prior-year period.
Check this space to read management/analysts’ comments on Block’s Q3 results
Total revenues increased 17% year-over-year to $4.52 billion. At $54.4 billion, gross payments volume was up 20% compared to the third quarter of 2021.