A bleeding beak is most often the result of a chipped beak, but it can sometimes indicate a broken beak, which requires a trip to a veterinarian who specializes in birds. Broken beaks need to be repaired. A broken beak also requires that your bird eat a soft diet until the beak grows in. The most important thing is to first stop the bleeding of the bird's broken beak.
Calm your bird down, as he's probably upset, and try to keep him still. Don't hold him too tightly and never hold a bird by the chest; birds are delicate and it's easy to hurt them. Most birds respond best to being gently wrapped in a soft blanket. This keeps the bird's wings close to his body. Make sure that his head is not wrapped.
Use styptic powder to stop the bleeding by applying it to the source of the bleeding on your bird's beak. You can also use cornstarch or flour if you don't have styptic powder. Apply gentle pressure to your bird's beak for five minutes.
Keep an eye on your bird and take him to a veterinarian who specializes in birds if the bleeding does not stop or if the bleeding resumes after it stops. There might be cracks in the beak that need a veterinarian's attention. Even if the bleeding stops and does not resume, consider taking your bird to a veterinarian to ensure that there is not more extensive damage.