Block Raises Full-Year Profit Guidance After Q2 Beat, Bitcoin Business Profit Falls 31%

According to Bloomberg, Block Inc. raised its full-year profit guidance on Wednesday following a better-than-expected second quarter. The company, led by Jack Dorsey, now projects 2026 adjusted operating income of $3.5 billion and diluted earnings per share of $4.02, both above prior forecasts.

Q2 gross profit reached $3.2 billion, up 25% year-over-year, with adjusted operating income of $864 million per share at $1.02, exceeding Wall Street's estimate of 87 cents. However, Bitcoin business gross profit fell 31% due to persistent price weakness and reduced trading fees, offsetting overall gains. Block shares rose 3% after-hours and are up about 30% year-to-date.