Fintech company Block (XYZ) has lifted its full-year outlook after reporting a strong second quarter driven by growth in Cash App and Square, with gross profit up 25% year over year to $3.17 billion, ahead of Block’s prior guidance. Second-quarter adjusted operating income also exceeded guidance, reaching $855 million, according to a results filing on Wednesday. Adjusted diluted earnings per share were $1.02, beating the Wall Street consensus estimate of 87 cents per share.The results led Block to lift its full-year gross profit guidance to $12.51 billion from $12.33 billion, and adjusted operating income to $3.47 billion from $3.34 billion. “Our increased guidance reflects the strength of our first-half execution and the momentum we’re carrying into the second half of 2026,” said Block’s chief financial officer Amrita Ahuja in an earnings call. Meanwhile, Block said in a shareholder letter that agentic AI helped write and review nearly all production code changes in June, coming months after it cut 4,000 jobs in February as part of an AI-led restructuring.Owen Jennings, Block’s business lead, told analysts in the earnings call that code changes per engineer are up 150% compared to the start of the year. Related: Dorsey’s Block says new AI tool handles 15% of code work Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.