In this articleXYZ your favorite stocksCREATE FREE ACCOUNTwatch now1:3101:31Block s surge after hours on upbeat forecast despite earnings missFast MoneyBlock s jumped 6% in ext trading on Thursday after the fin company increased its forecast for the year.Here is how the company did, compared to analysts' consensus estimates from LSEG.Earnings per : 62 cents adjusted vs.
69 cents expectedRevenue: $6.05 billion vs. $6.31 billion expectedRevenue fell close to 2% from $6.16 billion a year earlier.
Block said gross fit rose 14% from a year earlier to $2.54 billion, beating analysts' estimates of $2.46 billion for the quarter.
Gross payment volume at Square increased 10% to $64.25 billion, while Cash App recorded GPV of $2.37 billion.Block raised its guidance for full-year gross fit to $10.17 billion, representing 14% growth from a year earlier.
In its prior earnings report, Block said gross fit for the year would come in at $9.96 billion.The company expects full-year adjusted operating income of $2.03 billion, or a 20% margin.
For the third quarter, the company expects gross fit to grow 16% from a year ago to $2.6 billion, with an operating margin of 18%.watch now0:4400:44Block s pop more than 9% despite Q2 missClosing Bell: OvertimeNet income in the quarter more than doubled to $538.5 million, or 87 cents per , from $195.3 million, or 31 cents per , a year earlier.Square payment volume in the quarter grew 10% from a year earlier.Block faces growing competition from rivals such as Toast and Fiserv's Clover, though its Square still gained during the quarter in areas such as retail and food and beverage.Block s were down 10% this year as of Thursday's close, while the Nasdaq is up 10%.
Last month, Block was added to the S&P 500.Correction: A prior version of this story had an incorrect statement revenue.— CNBC's Robert Hum contributed to this report.Don’t miss these insights from CNBC Nvidia gets price target hike from Goldman Sachs ahead of earningsA bearish 'double top' pattern just formed in the Dow.
What that meansThe charts show Tesla s could be on the verge of a big swing, Katie Stockton saysCaterpillar, Eaton reports show hit from tariffs, cast doubt on 2025′s hottest Wall Street tradeWATCH: One of Block's better quarterswatch now2:0002:00This was actually one of Block's better quarters, says Mizuho's Dan Dolev as stock climbs on Q2 missClosing Bell: Overtime