The company reported net income of $283.7 million, or 45 cents per share, after losing $88.7 million, or 15 cents a share, a year earlier.
The Cash App business, the company's popular mobile payment platform and a significant contributor to overall profitability, reported $1.31 billion in gross profit, a 21% year-over-year jump. Block, run by Twitter co-founder Jack Dorsey, said its Cash App Card monthly active users increased 11% year over year to more than 24 million.