Block shares rose more than 4% after earnings and revenue beat forecasts

Block (NYSE: XYZ) shares gained more than 4% in late trading after the payments company posted second-quarter numbers above Wall Street forecasts. Adjusted earnings reached $1.02 per share for the three months through June 30.

Analysts following London Stock Exchange Group (LSE: LSEG) were expecting 87 cents per share. The quarterly income came to $6.62 billion, exceeding the estimates of around $6.49 billion from analysts.

The company, led by Jack Dorsey, also raised its full-year target. Block now sees 2026 gross profit at $12.51 billion, which would mean 21% growth from a year earlier. Its old target was $12.33 billion, or 19% growth. The report came at the end of a solid earnings season for U.S. payment companies.

Block separates bitcoin activity from the business metrics it uses to judge operations

Block said it looks at both GAAP and non-GAAP results when reviewing its performance. The company gives the most attention to gross profit, adjusted operating income, and adjusted earnings per share.

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