Aug. 5, 2026Block raised its full year 2026 guidance Wednesday after reporting stronger second quarter results, despite a 31% decline in gross profit from its Bitcoin ecosystem. Block’s Bitcoin ecosystem generated $72 million in gross profit during the quarter, down from $105 million a year earlier. AdvertisementTotal revenue rose 9% year over year to $6.62 billion, while gross profit increased 25% to $3.17 billion. Block reported operating income of $447 million and adjusted operating income of $864 million, representing a record margin of 27% of gross profit. Block raised its full year gross profit guidance to $12.51 billion, representing expected annual growth of 21%.