Block Raises Full-Year Outlook After Strong Earnings Beat
Block, the fintech company formerly known as Square, reported adjusted earnings per share of $0.85 for the most recent quarter, surpassing analyst expectations of $0.68. The company also raised its full-year 2026 adjusted EPS forecast to $3.85, signaling confidence in its growth trajectory. The earnings beat was driven by strong performance in its Cash App and Square segments, with gross payment volume increasing year-over-year. Block's stock rose in after-hours trading following the announcement. The company has been focusing on cost-cutting measures and expanding its product offerings, including bitcoin trading and buy-now-pay-later services. CEO Jack Dorsey emphasized the company's commitment to financial inclusion and innovation. The revised outlook reflects Block's optimism about sustained demand for its digital payment solutions.
Key facts
- Block reported adjusted EPS of $0.85, beating estimates of $0.68.
- The company raised its 2026 adjusted EPS forecast to $3.85.
- Strong performance in Cash App and Square segments drove the beat.
- Gross payment volume increased year-over-year.
- Stock rose in after-hours trading.
- Block is focusing on cost-cutting and product expansion.
- CEO Jack Dorsey highlighted financial inclusion and innovation.
- The revised outlook indicates confidence in sustained demand.
Entities
Institutions
- Block
- Square
- Cash App
Sources
- Quartz —