Overview

• Block reported adjusted Q2 earnings per share of 62 cents, missing the analyst consensus of 68 cents.
• Revenue fell to $6.05 billion, down from $6.15 billion a year earlier and below the $6.24 billion estimate.
• Gross profit climbed 14% year over year to $2.54 billion, beating forecasts and prompting management to raise its full-year gross profit guidance to $10.17 billion.
• The Cash App and Square segments delivered double-digit gross profit growth of 16% and 11% respectively, while Bitcoin-related revenue slipped to $2.14 billion.
• Shares surged about 11-12% in after-hours trading after the company raised its full-year outlook.