Bitcoin and Cash App Help Square Grow More Revenue
Posted on 11/05/2021
Payments processor Square, Inc., managed by Jack Dorsey, generated US$ 8,051,026,000 in Bitcoin revenue for the 9-months ended September 30, 2021 versus the same time frame ended September 30, 2020 at US$ 2,815,318,000 in Bitcoin revenue. Profit of Bitcoin revenue for the 2021 9-month period was US$ 153,210,000.
Square’s gross profit grew 43% year over year to US$ 1.13 billion, which was 51% on a two-year compound annual growth rate (CAGR) basis. Square’s consumer Cash App delivered growth in the third quarter of 2021, generating US$ 2.39 billion of revenue and US$ 512 million of gross profit, which increased 16% and 33% year over year, respectively.
