Jack Dorsey’s Block Inc. reports 14% YoY income growth in Q2, stock jumps in extended trading

The Block

2025-08-08 11:33:11

分享至

Jack Dorsey's Block Inc. reported an increase in income in the second quarter, prompting its shares to rise 6% during after-hours trading on Thursday.

In its latest quarterly earnings report disclosed Thursday, Block reported $2.54 billion in gross profit in the second quarter of this year, up 14% year-on-year. The company said in a separate shareholder letter that it has raised its gross profit forecast for 2025 to $10.17 billion, revised upward from its earlier forecast of $9.96 billion.

Block booked $538.46 million in net income attributable to common stockholders in the second quarter, compared to a net income of $195.27 million in the same period last year.

Block, a financial services and technology company formerly known as Square, operates several business units within the crypto asset ecosystem. According to its earnings report, the company holds bitcoin both as a long-term investment and to facilitate customer bitcoin transactions.

In the second quarter, it added 108 BTC, bringing its total holdings to 8,692 BTC as of the end of June. The company recorded a $212.17 million remeasurement loss on its bitcoin investment during the quarter, a significant reversal from the $70.12 million remeasurement gain it reported in the same period last year. Such loss mainly reflects the decrease in the fair value of its bitcoin holdings, according to the report.

Block's stock, trading under the ticker XYZ, closed up 0.95% on Thursday and gained another 6.15% in after-hours trading, according to Yahoo Finance data.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.