Block's first quarter 2026 adjusted EPS beat estimates on 38% Cash App gross profit growth, prompting a raised outlook for 2026.

Block reported first quarter 2026 revenue of $6.06 billion, a slight miss versus estimates, but delivered adjusted diluted EPS of $0.85, significantly beating expectations of $0.68. The company subsequently raised its full-year 2026 guidance for gross profit, adjusted operating income, and adjusted EPS.

Key Highlights

• Cash App was the primary growth driver, with its gross profit surging 38% year-over-year to $1.91 billion, fueled by an 82% acceleration in consumer lending origination volume.
• The Square segment delivered gross profit of $982 million, up 9% year-over-year, as its Gross Payment Volume (GPV) growth accelerated to 13% from 10% in the prior quarter.
• Profitability improved significantly, with Adjusted Operating Income reaching a record $728 million for a 25% margin, up from 20% in the prior year, leading to a raised full-year adjusted EPS growth forecast of 62%.