XYZ · Earnings call · 2026Q2T · Full report

Revenue Performance and Mix

Block, Inc. · 2026-08-05 · Importance 57 · Surprise 64 · In source text

Block’s second-quarter gross profit increased 25% year over year, with Square gross profit and GPV each rising 13%. Cash App gross profit grew 31%, while Cash App Commerce Enablement volume increased 17% and consumer lending origination volume increased 59%. Square’s international GPV grew 25% on a constant-currency basis, global food and beverage GPV rose 20%, and mid-market GPV increased more than 20%. Management expects third-quarter gross profit growth of 18% and fourth-quarter growth in the mid-teens, with Square gross profit and GPV growing roughly in line during the second half.

Key facts

• Cash App gross profit grew 31% year-over-year in the second quarter.
• Block reported international GPV up 25% on a constant currency basis.
• Global GPV accelerated to 13% and U.S. GPV accelerated to 10% (as referenced by an analyst) with Block confirming GPV acceleration: Square GPV accelerated to 13% globally and 10% in the U.S.
• Block reported global food and beverage GPV up 20% year-over-year.
• Block expects gross profit to grow roughly in line with GPV in the second half of 2026.
• Block expects accelerated Square gross profit growth in the back half of 2026 driven by strong GPV growth, ramping distribution channels, and pricing and packaging initiatives rolled out late last year.
• Block reported 25% gross profit growth and 65% adjusted diluted EPS growth year-over-year for Q2.
• Block grew gross profit 25% year-over-year in the second quarter.

Impact estimates