Block Inc. reported mixed second-quarter results, with adjusted earnings per share of $0.62 falling short of the $0.69 consensus and revenue slipping 2% year over year to $6.05 billion, below forecasts. Gross profit, however, grew 14% to $2.54 billion, helped by a 16% rise in Cash App gross profit to $1.50 billion and a 10% increase in Square’s gross payment volume to $64.25 billion. Despite the earnings and revenue misses, the San Francisco-based fintech raised its full-year outlook. Management now expects 2025 gross profit of $10.17 billion, up from the prior $9.96 billion view, and lifted its adjusted operating-income target to $2.03 billion. For the third quarter, the company projects gross profit of about $2.60 billion, implying 16% growth from a year earlier. The guidance boost sent Block shares up roughly 10% in extended trading. Segment momentum continued to improve: Cash App’s user engagement drove higher transaction and subscription revenue, while Square benefited from steady merchant spending across food-and-beverage and services categories. Transaction-based revenue rose 6% to $1.82 billion; subscription and services revenue advanced 14% to $2.05 billion. Block also expanded its cryptocurrency position, purchasing 108 bitcoin during the quarter and bringing its corporate treasury to 8,692 BTC valued at about $1.15 billion. The company recorded a $212 million gain from bitcoin remeasurement, reflecting higher crypto prices. Chief Executive Officer Jack Dorsey said new product launches such as Cash App Pools and Square Handheld are intended to accelerate network growth as the firm enters the second half of the year.