Key facts
- Block's Q2 gross profit rose 25% year-over-year to $3.17 billion.
- Q2 adjusted operating income was $855 million.
- Adjusted diluted earnings per share came in at $1.02, beating estimates.
- Full-year gross profit guidance was raised to $12.51 billion.
- Full-year adjusted operating income guidance increased to $3.47 billion.
- Agentic AI was used to review nearly all production code changes in June.
Fintech company Block has raised its full-year financial outlook following a strong second quarter, with gross profit increasing 25% year over year to $3.17 billion, surpassing its prior guidance. Adjusted operating income also exceeded expectations, reaching $855 million, and adjusted diluted earnings per share were $1.02, beating the Wall Street consensus of 87 cents.
Driven by the performance of its Cash App and Square ecosystems, Block lifted its full-year gross profit guidance to $12.51 billion from $12.33 billion and its adjusted operating income guidance to $3.47 billion from $3.34 billion. Chief Financial Officer Amrita Ahuja attributed the increased guidance to strong first-half execution and momentum heading into the latter half of 2026.
In parallel, Block has significantly expanded its use of artificial intelligence in software engineering. The company reported that agentic AI was involved in writing and reviewing nearly all production code changes in June. Business lead Owen Jennings noted that code changes per engineer have risen by 150% since the beginning of the year, following a February restructuring that involved 4,000 job cuts.