Block Inc., formerly known as Square and led by Jack Dorsey, delivered impressive second-quarter earnings that boosted investor confidence and sent its shares up 6% in after-hours trading on Thursday. The fintech giant reported a gross profit of $2.54 billion, a solid 14% increase compared to the same quarter last year.
Block Inc. Raises 2025 Gross Profit Forecast to Over $10 Billion
In its quarterly shareholder letter, Block raised its 2025 gross profit guidance to $10.17 billion, up from its earlier forecast of $9.96 billion. The upward revision reflects the company’s continued momentum across its core payment platforms, including Square and Cash App.
Net income attributable to common stockholders surged to $538.46 million, nearly tripling the $195.27 million reported in the second quarter of 2024. These results indicate strong operational efficiency and growing demand across both business and consumer segments.
Bitcoin Strategy Remains Core Despite Market Fluctuations
Block continues to lean heavily into the cryptocurrency space. The company added 108 BTC in the quarter, bringing its total bitcoin holdings to 8,692 BTC by the end of June 2025. Block uses bitcoin both as a long-term asset and to support customer-facing crypto transactions.
However, the company recorded a $212.17 million remeasurement loss on its bitcoin holdings, driven by market volatility. This contrasts with a $70.12 million gain in the same period last year. Despite the short-term loss, Block emphasized that bitcoin remains central to its long-term growth plans, reinforcing its commitment to integrating crypto into its financial ecosystem.
Block’s strong financials and continued investment in cryptocurrency position it as a major player in the evolving digital payments and fintech landscape.
