Block (NYSE: SQ) stock has taken investors on a turbulent ride, but one number from its recent earnings report stands out: $1.18 billion. This represents how much gross profit Block has made from its subscriptions and services, which have become increasingly crucial to Block's business.

This revenue is critical for Block's long-term growth because of its reliability and wide margins. Here's what prospective investors need to know before buying the stock.

Block's subscription and services revenue grew 33% in the second quarter and was pivotal to the company's 26% revenue growth. This revenue has become an important part of Block's growth over the past several years, so let's dive into what it is exactly and why it is key to its long-term growth.

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Source Fool.com