Overview

• Block Inc. reported a 60% drop in Q1 2025 profit, with net income falling to $189.9 million from $472 million a year earlier.
• The company recorded a $93.4 million bitcoin remeasurement loss, a sharp reversal from a $233.4 million gain in the same quarter last year.
• Block lowered its 2025 gross profit growth guidance to 12%, down from a previous forecast of 15%, and projected Q2 gross profit below Wall Street estimates.
• Cash App's gross profit growth slowed to 10%, a significant decline compared to 25% growth reported last year.
• Block's shares dropped 16% in extended trading as muted consumer spending and cryptocurrency volatility weigh heavily on its financial performance.