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Briefing

Cash App Drives Block Revenue Growth

By
Mark Matousek
· · Source: The Information

Block’s revenue grew 26% year over year, to $5.5 billion, during the second quarter, driven by a 36% increase in revenue from the fintech firm’s Cash App payments app, which reached $3.6 billion. Cash App saw a 43% jump in revenue from subscriptions and services, which includes transaction fees from Cash App’s debit card and quicker deposits for users. Cash App’s monthly active users grew to 54...

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