Block stock jumps on strong first-quarter earnings and higher 2026 guidance

13 articles · Updated · Barron's · May 7

Shares rose 6.7% to $74.80 in premarket trading after Block posted adjusted earnings of 85 cents a share on $6.06bn revenue, beating forecasts.
The Cash App owner lifted its 2026 adjusted earnings outlook to $3.85 a share from $3.66, helped by stronger Square transaction volumes and Cash App Borrow growth.
The results suggested Block's payments business remained resilient after February's plan to cut 4,000 jobs, or 40% of staff, as CEO Jack Dorsey said AI was boosting engineering productivity.

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