Block Raises 2025 Profit Forecast on Strong Consumer Spending; Shares Rise 6%

Block reported higher second-quarter net income and raised its full-year gross profit forecast, driven by resilient consumer spending amid economic uncertainty. The payments company’s shares jumped 6% in extended trading following the announcement.

The firm now expects 2025 gross profit to reach $10.17 billion, up from a prior forecast of $9.96 billion. CFO Amrita Ahuja highlighted strong signs in key growth drivers during the quarter that boosted confidence in the outlook.

Key highlights from Q2:

• Cash App’s gross profit grew 16% year-over-year, though slower than last year’s 23% growth.

• Square segment’s gross profit increased 11%, fueled by software, integrated payments, and banking product adoption among small and medium businesses.

• Bitcoin revenue declined to $2.14 billion from $2.61 billion year-over-year.

• Total net revenue slightly decreased to $6.05 billion from $6.16 billion.

• Adjusted net profit rose to $385 million (62 cents per share), compared to $301 million (47 cents) a year earlier.

Despite nearly a 10% share price decline in 2025 due to market volatility and earlier profit cuts, Block’s stock has benefited recently from its inclusion in the S&P 500 index.