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Mar 31, 2025
Block Inc. Q1 2025 Earnings Report
Block reported moderate growth in gross profit and net income for Q1 2025, with continued investment in Cash App and Square to drive second-half acceleration.
Key Takeaways
Block delivered a 9% year-over-year increase in gross profit and a net income of $190M. Cash App Borrow expansion and Square's go-to-market initiatives were highlighted as key future growth levers.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Block expects acceleration in gross profit growth during the second half of 2025, driven by expanded Cash App Borrow, new product rollouts, and increased marketing investments.
Positive Outlook
- Cash App Borrow to reach more users after FDIC approval
- Mid-teens gross profit growth expected by Q4 2025
- Over 100 product launches scheduled in Square's May event
- Strong performance from Square's upmarket and international segments
- Healthy risk metrics and ROI from marketing investments
Challenges Ahead
- Cash App gross profit came in below expectations in Q1
- Slower consumer spending impacted results
- Monthly transacting actives on Cash App remained flat YoY
- Macroeconomic uncertainty still influencing guidance
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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