Block Raises 2026 Guidance as Cash App and Square Growth Accelerate
2026-07-23 15:59:46
According to CNBC, Block raised its full-year 2026 outlook after a first-quarter update that showed faster growth in its core businesses, while the stock traded around $77 and remained about 72% below its highs. Cash App gross profit rose 38% year over year to $1.91 billion, monthly active users reached 59 million, and Cash App Borrow originations increased 175%. On the Square side, gross payment volume rose 13% to $61.2 billion, with food and beverage volume up 21%. The company said production code shipped per engineer rose 2.5 times from January to April and 70% of support inquiries are now automated. Management guided to 2026 gross profit of $12.33 billion, adjusted operating income of $3.34 billion and adjusted EPS of $3.85. The article also said Block contributed equity in a reported $60.50-per-share, $53.4 billion offer for PayPal made by Stripe and Advent International.
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