The fintech firm raised full-year guidance after gross profit surged 25% year-over-year to $3.17 billion in Q2.
Block raised its 2026 financial outlook after reporting stronger-than-expected second-quarter results, driven by growth in Cash App and Square. Gross profit climbed 25% year-over-year to $3.17 billion, surpassing prior guidance, while adjusted operating income reached $855 million, above expectations.
Adjusted diluted earnings per share hit $1.02, topping the Wall Street consensus of 87 cents. The company now expects full-year gross profit of $12.51 billion, up from $12.33 billion, and adjusted operating income of $3.47 billion, revised from $3.34 billion.
Block also highlighted expanded AI integration, with agentic AI now handling nearly all production code changes. The company cut 4,000 jobs earlier this year as part of an AI-led restructuring.