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<div class="watcher-guru"> 
 <p>Jack Dorsey’s Block has reported a gross profit of $1.87 billion for Q2 2023. The figure represented a 27% increase in revenue year-over-year. Moreover, Block reported that out of the total $5.5 billion revenue in Q2, $2.4 billion came from Bitcoin (BTC). In a letter to shareholders, the company stated that <strong>“We delivered strong growth and profitability at scale during the second quarter of 2023.”</strong></p> 
 <p><strong>Also Read: Coinbase &amp; Cash App to Integrate Jack Dorsey’s Bitcoin Self-Custody Wallet</strong></p> 
 <p><a rel="noopener noreferrer nofollow" title="Block" href="https://thebittimes.com/tag/block.html">Block</a>’s Cash App boosted gross profit by 37% to $968 million. Meanwhile, Square saw a gross profit of $888 million, marking an 18% increase from the previous year. <a rel="noopener noreferrer nofollow" title="Block" href="https://thebittimes.com/tag/block.html">Block</a>’s stock earned 39 cents on an adjusted basis in Q2. The figure surpassed analysts’ estimates of 36 cents, as per Refinitiv IBES data.</p> 
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 <h3 class="wp-block-heading" id="h-how-did-pay-pal-perform-in-q2">How did Pay Pal perform in Q2?</h3> 
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  <img decoding="async" width="1024" height="778" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="PayPal" class="wp-image-15160 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp.webp 768w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp.webp 1536w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp.webp 550w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp.webp 800w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp.webp 1160w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp.webp 1920w" data-srcset-img="https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 1024w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 768w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 1536w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 550w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 800w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 1160w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 1920w" data-eio="j"> 
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   <img decoding="async" width="1024" height="778" src="https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp" alt="PayPal" class="wp-image-15160" srcset="https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 1024w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 768w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 1536w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 550w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 800w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 1160w, https://cdn.thebittimes.com/images/2023/08/04/f270382e8166eda65e55fb6448b8408d.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Source: Unsplash 
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 <p>On the other hand, <a rel="noopener noreferrer nofollow" title="Block" href="https://thebittimes.com/tag/block.html">Block</a> competitor, Pay Pal, reported disappointing results for Q2, leading to a 7% dip in share price. PayPal’s margins have been underwhelming, causing concern among analysts. The adjusted operating margin fell short of the forecast at 21.4%, instead of the expected 22%. The company’s revenue for the quarter was $7.3 billion, up from $6.8 billion last year. It earned $1.16 per share on an adjusted basis, meeting Wall Street expectations. </p> 
 <p>Low-margin business products have seen robust growth, but competition from rivals like Apple has slowed the expansion of its branded products. Like <a rel="noopener noreferrer nofollow" title="Block" href="https://thebittimes.com/tag/block.html">Block</a>, Pay Pal is also big on Bitcoin (BTC) and crypto. </p> 
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 <p><strong>Also Read: How to Buy Ethereum on MetaMask with <a rel="noopener noreferrer nofollow" title="Paypal" href="https://thebittimes.com/tag/paypal.html">Paypal</a></strong></p> 
 <h3 class="wp-block-heading" id="h-comparing-block-and-pay-pal-s-bitcoin-btc-and-crypto-revenue">Comparing Block and Pay Pal’s Bitcoin (BTC) and crypto revenue</h3> 
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  <img decoding="async" loading="lazy" width="1024" height="683" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="" class="wp-image-105251 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp.webp 768w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp.webp 550w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp.webp 800w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp.webp 1160w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp.webp 1260w" data-srcset-img="https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 1024w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 768w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 550w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 800w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 1160w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 1260w" data-eio="j"> 
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   <img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp" alt="" class="wp-image-105251" srcset="https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 1024w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 768w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 550w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 800w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 1160w, https://cdn.thebittimes.com/images/2023/08/04/d803fbad59be5b86cfa302b51e935180.webp 1260w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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  <figcaption class="wp-element-caption">
    Bitcoin cryptocurrencies and graph statistic background 
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 <p>Compared to Q2 2022, <a rel="noopener noreferrer nofollow" title="Block" href="https://thebittimes.com/tag/block.html">Block</a> saw a 34% increase in its Bitcoin (BTC) revenue. The company stated that revenue from BTC could have been higher if there weren’t a dip in prices. Moreover, the company did not report any losses on its BTC holdings. This is most likely due to BTC being up by almost 76% since January. </p> 
 <p>PayPal’s participation in the crypto space has been a standout highlight. In May, its customers’ crypto holdings reached an impressive $943 million. In Q1, the company reported a 56% increase in crypto holdings. However, there is no official report on how much crypto is currently being held by the payments giant. </p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>bitcoin</li> 
  <li>Block</li> 
  <li>Paypal</li> 
 </ul> 
</div>

Comparing Jack Dorsey's Block vs. Elon Musk's PayPal For Q2 2023

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