Block Raises 2026 Profit Forecasts on Square and Cash App Growth

Block upgrades 2026 outlook with $12.5B gross profit target, driven by Square and Cash App strength despite Bitcoin ecosystem fee declines.

Woofun AI reports that Block, the payment firm owned by Jack Dorsey, has increased its full-year profit guidance for 2026. The company projects annual gross profit of $12.5 billion, adjusted operating revenue of $3.5 billion, and adjusted diluted earnings per share of $4.02.

While net profit fell 84% to $88.5 million due to restructuring and higher marketing costs, overall performance surpassed market expectations thanks to expansion in Square and Cash App. Conversely, gross profit from the Bitcoin ecosystem dropped 31% to $72 million, reflecting lower transaction fees on Cash App.