Block Q2 gross profit reaches $2.54 billion, up 14% year-on-year

On August 8, it was reported that Block, the payment platform founded by Twitter co-founder Jack Dorsey, saw its revenue grow in the second quarter of this year, driving its stock price up by 6% in after-hours trading on Thursday. According to the latest quarterly report released on Thursday, Block achieved a gross profit of $2.54 billion in the second quarter, a year-on-year increase of 14%. In a separate letter to shareholders, the company stated that it has raised its 2025 gross profit forecast to $10.17 billion, up from the previous estimate of $9.96 billion. In the second quarter, Block’s net profit attributable to common shareholders was $538.46 million, compared to $195.27 million in the same period last year.