Block Inc.’s Q3 Revenue Falls Short of Expectations

Block Inc. recently reported a net revenue of $6.11 billion for the third quarter, missing analysts’ expectations of $6.34 billion. Bitcoin-related revenue for the period amounted to $1.97 billion, falling below predictions of $2.28 billion. Nevertheless, Block Inc. forecasts a gross profit of $2.76 billion for the fourth quarter, slightly exceeding analyst projections of $2.74 billion.