Annual net income of Block (Square) 2012-2022
Block's net income in 2022 decreased by over 400 percent, as cryptocurrency - a hallmark strategy of the company that took over Square - became less popular. The gross value of payments, or GPV, processed by Block did not decline, however. GPV reached an all-time high in Q2 2023. However, growth continued to slow down, signaling potential problems for the digital payment provider.