After reporting a solid second quarter led by growth in Cash App and Square, fintech startup Block raised its full-year expectation. Gross profit increased 25% year over year to $3.17 billion, exceeding Block’s previous guidance.
According to a statistics report on Wednesday, second-quarter adjusted operating income also above forecasts, coming in at $855 million. The Wall Street average forecast of 87 cents per share was exceeded by adjusted diluted profits per share of $1.02.
Block increased its adjusted operating income to $3.47 billion from $3.34 billion and its full-year gross profit outlook to $12.51 billion from $12.33 billion as a result of the performance.
We built on Q1 momentum, outperforming on both top and bottom lines:
– Gross profit grew 25% YoY to $3.17 billion
– We raised our full-year 2026 guide: we expect to deliver 21% YoY gross profit growth— Block Investor Relations (@BlockIR) August 5, 2026
During an earnings call, Block’s chief financial officer Amrita Ahuja stated, “Our increased guidance reflects the strength of our first-half execution and the momentum we’re carrying into the second half of 2026.”
A few months after it eliminated 4,000 workers in February as part of an AI-led reorganization, Block stated in a shareholder letter that agentic AI assisted in writing and reviewing almost all production code modifications in June.
During the results call, Block’s business head, Owen Jennings, informed investors that code changes per engineer had increased by 150% since the beginning of the year.
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