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The fintech company posted 25% gross profit growth and a record adjusted operating income margin of 27% in the second quarter
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Block $SQ reported second-quarter results Wednesday that showed 25% gross profit growth year over year and an all-time high adjusted operating income margin of 27%, less than six months after the company laid off more than 40% of its staff in a move framed as a pivot to artificial intelligence.
Gross profit reached $3.17 billion in the quarter, the company said. Adjusted operating income grew 57% year over year to $864 million. Adjusted diluted earnings per share rose 65% year over year to a record $1.02. Block also raised its full-year gross profit guidance to $12.51 billion, representing 21% growth, and now expects adjusted diluted EPS of $4.02 for 2026, up 70% year over year.
