CoinTelegraph
Block raises 2026 outlook on strong quarter, AI touches nearly all code
August 5, 2026•09:22 PM
Fintech giant Block has shattered all expectations in the second quarter, driven by robust growth in Cash App and Square, with gross profit surging 25% year-over-year to $3.17 billion, prompting the company to raise its 2026 outlook. The firm also highlighted significant expansion of artificial intelligence usage across software engineering, with AI touching nearly all of the company's code.
The impressive financial results included adjusted operating income of $855 million and adjusted diluted earnings per share of $1.02, beating Wall Street estimates of $0.87 per share. Based on this strong performance, Block raised its full-year gross profit guidance to $12.51 billion and adjusted operating income to $3.47 billion, indicating continued confidence in the company's growth strategy and technological innovation.
This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.
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