Snapshot
Block, Inc. reported $6.06B of revenue in Q1 2026, up 4.9% year over year, with diluted EPS of $-0.52 and an operating margin of -2.8%.
- Revenue
- $6.06B
- YoY growth
- +4.9%
- Diluted EPS
- $-0.52
- Operating margin
- -2.8%
$6.06B
Revenue
+4.9%
YoY growth
$-0.52
Diluted EPS
-2.8%
Operating margin
01 Key takeaways
What management said
- •We delivered another strong quarter, outperforming our guidance across gross profit, adjusted operating income, and adjusted diluted EPS.
- •Gross profit grew 26%-27% year-over-year to $2.91 billion in the first quarter, driven by accelerating growth in both Cash App and Square.
- •Adjusted operating income increased 56% year-over-year to $728 million or 25% margin.
- •Adjusted EBITDA reached $1 billion, and adjusted diluted EPS grew 52% year-over-year to $0.85.
- •Each of these adjusted metrics represented all-time highs on a dollar and margin basis.
- •Cash App gross profit growth was 38% year-over-year in the first quarter, driven by accelerating growth in both commerce enablement and financial solutions.
- •Cash App monthly transacting actives grew 4% year-over-year as we continued to execute on our product and go-to-market strategies to strengthen network growth.
- •We continued to deepen engagement across our actives base, with inflows per transacting active up 10% year-over-year and Primary Banking Actives growth of 18% year-over-year to 9.7 million.
- •Turning to Square, where gross profit and GPV growth accelerated in the first quarter to 9% and 13% respectively.
- •On a constant currency basis, GPV grew 11.5% year-over-year, improving across both the U.S.
- •We accelerated GPV growth from food and beverage sellers to 21% year-over-year and from mid-market sellers to 22% year-over-year, both reflecting the strongest growth rates we've seen since Q1 2023.
- •International GPV grew 35% year-over-year or 26% on a constant currency basis.
SourcesCompany financials · earnings call
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