JUST IN: $47 BILLION Block CFO tells CNBC Bitcoin can be the open protocol that "powers the internet." ⚡️ https://t.co/F5GoMEu2XR ...

JUST IN: 🇺🇸 $47 billion Block Inc. CFO says on CNBC, “#Bitcoin can be the open protocol that powers the internet.” https://t.co/4iucX8MjDR ...

JUST IN: Jack Dorsey's Block bought $12.6 million Bitcoin in Q2.They now hold 8,692 Bitcoin worth more than $1 BILLION. 🔥 https://t.co/tXq4N0LtiW ...

🚨JUST IN: @JACK DORSEY’S BLOCK INCREASES $BTC HELD BY 108 $BTC IN Q2, BRINGING TOTAL TO 8,692 $BTC WORTH AROUND $1B ~ COINTELEGRAPH ...

摩根大通：将Block目标价从90美元上调至100美元。 ...

Core Insights - Block reported strong growth in profitability for Q2 2025, with net income and gross profit increasing year-over-year, despite missing consensus revenue and adjusted earnings expectations [1][5][11] Financial Performance - Adjusted EPS (non-GAAP) was $0.62, slightly below the estimate of $0.63, and up 31.9% from $0.47 in Q2 2024 [2] - GAAP revenue was $6.05 billion, missing the estimate of $6.30 billion, and down 1.8% from $6.16 billion in Q2 2024 [2] - Gross profit reached $2.54 billion, a 13.9% increase year-over-year [2] - Net income (GAAP) was $538 million, more than doubling from $195 million in Q2 2024, reflecting a 175.9% increase [2] Business Segments - Square's gross profit grew 11% year-over-year to $1.03 billion, with international gross payment volume up 25%, now representing 19% of all Square payments [6] - Cash App generated gross profit of $1.50 billion, up 16% year-over-year, but user growth stagnated at 57 million monthly actives [7] Strategic Focus - Block is emphasizing the integration of its business and consumer ecosystems to enhance cross-selling and customer engagement [4] - New product rollouts include Cash App Borrow loans and the Pools group payment feature, with a focus on targeting younger users [4][7] Profitability and Cost Management - Adjusted operating income rose nearly 38% to $550 million, yielding a 22% adjusted operating income margin on gross profit [8] - Operating leverage was partly achieved through software and cloud cost reductions, while sales and marketing expenses increased to support new product launches [8] Future Outlook - For FY2025, Block raised its guidance, expecting gross profit of $10.17 billion and adjusted operating income of $2.03 billion [11] - Growth levers identified include expansion of Cash App's lending, deeper integration of buy-now-pay-later, and international growth for Square [12]

Core Insights - Block aims to become a comprehensive financial hub for consumers and merchants, integrating various financial services including P2P payments, commerce tools, banking services, and bitcoin capabilities across its platforms Cash App and Square [1][3]. Financial Performance - Block reported double-digit gross profit growth and expanding margins, raising its full-year forecast, indicating a strong financial performance [4]. - Square's gross payment volume (GPV) grew 10% to $64.2 billion in Q2, with international growth at 25%, significantly outpacing the U.S. growth of 7% [5]. Cash App Developments - Cash App processed $218 billion in P2P volume over the past year, positioning itself as a low-cost growth strategy with organic user acquisition [5]. - Cash App's banking activities reached 8 million users in June, a 16% year-over-year increase, with short-term loan product Borrow seeing a 95% growth in originations to $18 billion annualized [7]. Commerce Network Expansion - Block's commerce network handled $183 billion in spending over the last 12 months, a 16% increase, with plans to personalize offers and introduce an "auto-selection" feature for savings [6]. - The buy now, pay later (BNPL) segment saw gross merchandise value hit $9.11 billion, up 17%, driven by Pay-in-Four plans and new post-purchase options [6]. Bitcoin Integration - Cash App customers have transacted over $58 billion in bitcoin since its launch, with upcoming features allowing Square sellers to accept bitcoin payments that settle instantly in either crypto or local currency [8]. Technological Advancements - Block is enhancing the integration between Cash App and Square, allowing Cash App Business sellers to utilize Square's Tap to Pay on iPhone, leveraging shared data and marketing tools [10]. - The introduction of Square AI in the seller dashboard provides merchants with instant insights into sales patterns, enhancing operational efficiency [11]. Market Focus - Mid-market sellers, defined as those with over $500,000 in annual GPV, grew their volume by 17% year-over-year, now accounting for 44% of Square's GPV [12].

Core Insights - Block reported revenue of $6.05 billion for the quarter ended June 2025, a decrease of 1.6% year-over-year, and EPS of $0.62, down from $0.93 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $6.32 billion by 4.17%, while the EPS exceeded the consensus estimate of $0.60 by 3.33% [1] Financial Performance Metrics - Gross Payment Volume (GPV) reached $66.62 billion, surpassing the average estimate of $66.11 billion [4] - GPV for Square was $64.25 billion, exceeding the average estimate of $63.59 billion, while Cash App's GPV was $2.37 billion, below the estimate of $2.52 billion [4] - Subscription and services-based revenue was $2.05 billion, slightly above the average estimate of $2.03 billion, reflecting a year-over-year increase of 14.8% [4] - Hardware revenue was reported at $40.42 million, slightly above the average estimate of $40.26 million, but showed a year-over-year decline of 5.9% [4] - Transaction-based revenue totaled $1.82 billion, slightly above the average estimate of $1.81 billion, with a year-over-year increase of 6.1% [4] - Bitcoin revenue was $2.14 billion, below the average estimate of $2.52 billion, representing a year-over-year decline of 17.9% [4] - Cash App transaction-based revenue was $60.52 million, significantly lower than the estimated $69.47 million, marking a 38.8% decrease year-over-year [4] - Square transaction-based revenue was $1.76 billion, slightly above the average estimate of $1.74 billion, with an 8.9% year-over-year increase [4] - Square subscription and services-based revenue was $369.29 million, slightly below the average estimate of $369.92 million, reflecting a year-over-year increase of 14.5% [4] - Square hardware revenue was $40.1 million, below the average estimate of $41.15 million, showing a year-over-year decline of 6.4% [4] Stock Performance - Block's shares have returned +10.3% over the past month, outperforming the Zacks S&P 500 composite's +1.2% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Company Performance - Block reported quarterly earnings of $0.62 per share, exceeding the Zacks Consensus Estimate of $0.60 per share, but down from $0.93 per share a year ago, indicating a 33.33% year-over-year decline [1] - The company posted revenues of $6.05 billion for the quarter ended June 2025, missing the Zacks Consensus Estimate by 4.17% and down from $6.16 billion year-over-year [2] - Over the last four quarters, Block has surpassed consensus EPS estimates only once and has not beaten consensus revenue estimates during the same period [2] Stock Performance - Block shares have declined approximately 10.4% since the beginning of the year, contrasting with the S&P 500's gain of 7.9% [3] - The current Zacks Rank for Block is 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.65 on revenues of $6.38 billion, while the estimate for the current fiscal year is $2.45 on revenues of $24.94 billion [7] - The outlook for the Internet - Software industry, where Block operates, is currently in the top 28% of over 250 Zacks industries, indicating a favorable environment for potential stock performance [8]

[Music] Welcome back to fast money and earnings alert on block spiking after hours. The payments company missing top and bottom line estimates but boosting fullear guidance. It's conference calls underway.CNBC's Mackenzie Sagala is following the action. Hey Mac. Hey Mel.So Block shares popping as much as 11% in the after hours though it is pairing those gains now but it shows that investors are clearly willing to forgive that Q2 miss on earnings thanks to the company's outlook for the back half of the year. ...