{"id":76442,"date":"2026-08-06T05:08:08","date_gmt":"2026-08-06T05:08:08","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/cash-app-and-square-lift-block-q2-earnings-above-forecast\/"},"modified":"2026-08-06T05:08:08","modified_gmt":"2026-08-06T05:08:08","slug":"cash-app-and-square-lift-block-q2-earnings-above-forecast","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/cash-app-and-square-lift-block-q2-earnings-above-forecast\/","title":{"rendered":"Cash App and Square Lift Block Q2 Earnings Above Forecast"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Block raised its 2026 earnings forecast after Cash App and Square delivered stronger second-quarter growth, while AI tools increased development output following a major workforce reduction.<\/p>\n<hr\/>\n<p><em><strong>Good to Know<\/strong><\/em><\/p>\n<ul>\n<li><em><strong>Q2 gross profit rose 25% to $3.17 billion.<\/strong><\/em><\/li>\n<li><em><strong>Cash App gross profit increased 31% to $1.97 billion.<\/strong><\/em><\/li>\n<li><em><strong>Code changes per engineer rose 150% from January.<\/strong><\/em><\/li>\n<\/ul>\n<hr\/>\n<h2><strong>AI Restructuring Starts to Show in Block Results<\/strong><\/h2>\n<p>Block said agentic AI helped write or review nearly every production code change made during June. Owen Jennings also told analysts that engineers now complete 150% more code changes than at the start of 2026.<\/p>\n<p>The update came five months after Block cut more than 4,000 jobs, reducing its workforce by roughly 40%. Jack Dorsey linked that restructuring to smaller teams and wider AI use across product development and operations.<\/p>\n<p>Block reported adjusted operating income of $864 million and adjusted diluted earnings of $1.02 per share, above the Wall Street estimate of $0.87. Total revenue rose 9% to $6.62 billion.<\/p>\n<p>Cash App led the quarter with gross profit of $1.97 billion, up 31%. Square added $1.16 billion, a 13% increase, while merchant gross payment volume rose 10% to $74.73 billion.<\/p>\n<p>Block now expects full-year gross profit of $12.51 billion, up from $12.33 billion. Adjusted operating income guidance increased from $3.34 billion to $3.47 billion.<\/p>\n<p><em>\u201cOur increased guidance reflects the strength of our first-half execution and the momentum we\u2019re carrying into the second half of 2026,\u201d<\/em> Chief Financial Officer Amrita Ahuja said.<\/p>\n<p>The stronger forecast gives Block early evidence that its smaller operating structure can support faster product development. However, the company still faces the longer-term test of maintaining growth after removing thousands of roles.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/block-q2-gross-profit-reaches-3-17-billion-after-ai-restructuring\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Block raised its 2026 earnings forecast after Cash App and Square delivered stronger second-quarter growth, while AI tools increased development output following a major workforce reduction. Good to Know Q2 gross profit rose 25% to $3.17 billion. Cash App gross profit increased 31% to $1.97 billion. [&hellip;]<\/p>\n","protected":false},"author":34,"featured_media":76443,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/76442"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=76442"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/76442\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/76443"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=76442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=76442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=76442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}