Block’s adjusted earnings per share jumped 65% year-over-year
Block delivered a 65% year-over-year jump in adjusted earnings per share, with $1.02 per share exceeding the $0.87 consensus estimate.
The company’s AI-centered strategy drove strong earnings growth, with a 40% reduction in workforce in February citing AI tools making software engineers more productive.
Management expects full-year earnings to grow by 70%, with higher profits to be reinvested in developing new products for long-term revenue growth.