Block, opens new tab raised its full-year gross profit forecast on Wednesday after delivering market-beating second-quarter results on the back of resilient consumer spending, strong growth at Cash App and improved margins.
Cash App has largely fended off competition by evolving beyond peer-to-peer transfers into a broader consumer financial services platform offering banking, investing and lending products. Gross profit at Cash App surged 31% in the quarter.
The second half of the year also brings major shopping events, including the holiday season, with retailers offering deep discounts to entice budget-conscious consumers.
Block now expects gross profit of $12.51 billion, representing a 21% growth in 2026, versus its prior forecast of $12.33 billion, or 19% growth.
The stock reversed course after an initial post-results rally. “Seems like there’s the usual post-print volatility in the stock,” analysts at Seaport Research Partners wrote.
It was last down 1.4% in extended trading. Shares are up nearly 30% in 2026.
