Block Announces First Quarter 2024 Results
Block, Inc. (NYSE: SQ) released its first quarter 2024 financial results, available on their Investor Relations website. The company will discuss these results in a conference call and earnings webcast. Block also revealed a strategic investment in bitcoin, initiating a DCA purchase program. This move reflects their belief in bitcoin as a tool for financial empowerment.
Block, Inc. (NYSE: SQ) posted strong financial results for the first quarter of 2024, showcasing positive growth and performance.
The company's strategic investment in bitcoin signals confidence in the digital asset and its potential for long-term growth.
Implementing a bitcoin dollar cost average (DCA) purchase program reflects Block's commitment to diversifying and optimizing its investment portfolio.
While the strategic investment in bitcoin may offer long-term benefits, there are inherent risks associated with cryptocurrency investments that could impact Block's financial stability.
DISTRIBUTED-WORK-MODEL/
Block will host a conference call and earnings webcast at 2:00 p.m. Pacific Time/5:00 p.m. Eastern Time today to discuss these financial results. To register to participate in the conference call, please visit the Events & Presentations section of Block’s Investor Relations website at investors.block.xyz.
Block also announced today a strategic investment into bitcoin following numerous positive developments both within the company and in the broader market. In April, Block implemented a bitcoin dollar cost average (DCA) purchase program that will run through 2024. Under the program, Block will be investing
Aligned with the company’s purpose, Block believes that bitcoin is an instrument of economic empowerment, providing a way for individuals to participate in a global monetary system and control their own financial future. In a new memo, Block has outlined its strategy for company owned bitcoin held for investment purposes, including its historical purchase execution, storage mechanics, and insurance and accounting considerations. The company plans to assess its aggregate investment in bitcoin relative to its other investments on an ongoing basis.
About Block
Block, Inc. (NYSE: SQ) (formerly, Square, Inc.) is a global technology company with a focus on financial services. Made up of Square, Cash App, TIDAL, and TBD, we build tools to help more people access the economy. Square makes commerce and financial services easy and accessible for sellers with its integrated ecosystem of technology solutions. With Cash App, anyone can easily send, spend, or invest their money in stocks or bitcoin. Afterpay brings Square and Cash App together, connecting consumers and businesses. Artists use TIDAL to help them succeed as entrepreneurs and connect more deeply with fans. TBD is building an open source platform and developer infrastructure that enables everyone to access and participate in the global economy.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240502887694/en/
Media
press@block.xyz
Investor Relations
ir@block.xyz
Source: Block, Inc.
FAQ
Where can I find Block, Inc.'s first quarter 2024 financial results?
What is Block, Inc.'s stock symbol?
What investment program did Block, Inc. announce in April 2024?
