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Block's third-quarter Bitcoin revenue reached $2 billion, accounting for nearly one-third of its total revenue.
BlockBeats News, November 7th, it was reported that Jack Dorsey's Block company recorded $2 billion in Bitcoin revenue in the third quarter, accounting for nearly a third of its total revenue. According to Block's Q3 report, gross profit grew by 18%, with Q3 revenue reaching $6.11 billion and a reported profit of $461.5 million. The performance met or exceeded some analysts' expectations but fell short of other key metrics. Bitcoin remains Block's second-largest revenue source, second only to subscription and service-based revenue. XYZ stock fell 3.7% to $70.94 at market close and further dropped 9.6% to $64.10 in after-hours trading.
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