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Block, Inc. (ASX:XYZ)

ALERT: Price-sensitive ASX Announcement for XYZ
Current share price for XYZ : $120.830 22.49 (22.87%)+
Announcement
Release
8 May 2026 8:12AM
Price at Release
$98.340
Full Release
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Summary
In the first quarter of 2026, Block, Inc. experienced a gross profit growth acceleration to 27% year-over-year, with notable performances from its Cash App and Square divisions. Cash App saw a 38% growth, while Square noted a 9% increase. Despite this, the Bitcoin Ecosystem reported a 26% decrease due to trading dynamics and strategic fee reductions. The company's operating loss amounted to $172 million, influenced by $852 million in restructuring and legal charges. However, adjusted operating income rose by 56% year-over-year, and the adjusted diluted EPS increased by 52% to $0.85. Cash App's consumer lending grew significantly, and Square's gross payment volume increased by 13% year-over-year.
Key Points
  • Overall gross profit growth of 27% year-over-year in Q1 2026
  • Cash App growth of 38% and Square growth of 9%
  • Bitcoin Ecosystem gross profit declined by 26% due to trading dynamics
  • Operating loss of $172 million due to restructuring and legal contingencies
  • Adjusted operating income grew 56% year-over-year
  • Adjusted diluted EPS increased by 52% to $0.85
  • Cash App consumer lending origination volume grew by 82%
  • Square's gross payment volume grew by 13% year-over-year
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.