Payments company Block (SQ) announced second quarter results Thursday that showed bitcoin revenue from its Cash App product fell 34% to $1.79 billion, with the company taking a $36 million charge on its bitcoin investments.
Gross profit in the quarter totaled $1.47 billion against Wall Street expectations for $1.46 billion, while adjusted earnings per share of $0.18 topped estimates for $0.16. Excluding bitcoin, total net revenue in the second quarter was $2.62 billion, up 34% year over…
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