Block Lifts 2026 Outlook as Cash App Profit Jumps 38% and Square GPV Hits $61.2B
XYZ sits 59% above its 52-week low of $48.21 on light trading volume (0.3× avg).
Summary
Block raised its full-year 2026 guidance after Q1 results showed accelerating momentum in both Cash App and Square. Cash App gross profit surged 38% year over year to $1.91 billion, monthly active users reached 59 million, and Borrow originations jumped 175%. Square gross payment volume rose 13% to $61.2 billion, with food and beverage volume up 21%. Management now sees 2026 gross profit of $12.33 billion, adjusted operating income of $3.34 billion, and adjusted EPS of $3.85. The company also highlighted operational gains: code shipped per engineer rose 2.5x and 70% of support is automated. Separately, Block contributed equity in a reported $60.50-per-share, $53.4 billion offer for PayPal by Stripe and Advent International. This follows the initial 2026 gross profit guidance issued in May and adds concrete Q1 metrics that validate the growth trajectory. The stock remains about 72% below its highs, so the raised outlook and operational leverage could drive further re-rating.
At the time of this announcement, XYZ was trading at $76.60 on NYSE in the Finance sector, with a market capitalization of approximately $45.6B. The 52-week trading range was $48.21 to $84.08. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Binance News.