XYZ · Earnings call · 2026Q2T · Full report

Trade Policy and Tariffs

Block, Inc. · 2026-08-05 · Importance 29 · Surprise 50

Square received a tariff reimbursement benefit in the second quarter of 2026 worth approximately two points of growth. Management said the benefit roughly offset a comparison related to network remediation in the second quarter of 2025. No further tariff reimbursement benefit was included in the company’s discussion of second-half expectations, and Square gross profit and GPV are expected to grow roughly in line in the back half of 2026.