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Jun 30, 2025
Block Inc. Q2 2025 Earnings Report
Block Inc. reported strong financial performance in Q2 2025 with solid growth in Cash App and Square gross profit.
Key Takeaways
Block posted a net income of $538 million and EPS of $0.87, driven by 16% growth in Cash App gross profit and steady performance from Square. Adjusted EBITDA reached $891 million, and the company raised its full-year outlook.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Block raised its full-year guidance for both gross profit and adjusted operating income, forecasting accelerated growth driven by Borrow, BNPL, and continued expansion of Cash App and Square ecosystems.
Positive Outlook
- Full-year gross profit guidance increased to $10.17B, up 14.4% YoY
- Expected Q3 gross profit of $2.60B, up 16% YoY
- Adjusted operating income margin forecasted at 20% for 2025
- Strong momentum in Borrow and BNPL expected to drive growth
- Square GPV expected to accelerate with go-to-market investments
Challenges Ahead
- Free cash flow turned negative in Q2 despite strong gross profit
- Increased transaction and loan losses due to Borrow expansion
- Cash App user growth stagnated at 57M MTAs
- Hardware revenue declined YoY
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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