Block sees Q2 gross profit up 9.5% y/y to $2.45B

The company said: “We recognize we are operating in a more dynamic macro environment, so we have reflected a more cautious stance on the macro outlook into our guidance for the rest of the year. We now expect $9.96 billion in gross profit for 2025, for growth of 12% year over year. We expect gross profit in the second quarter to grow 9.5% year over year to $2.45 billion and we expect to accelerate gross profit growth meaningfully in the second half of the year as we execute on our strategies to deepen engagement with Cash App customers as we expand Borrow and retroactive BNPL to more customers. We expect to deliver low-double-digit gross profit growth in the third quarter and mid-teens gross profit growth in the fourth quarter. Our expectation for accelerating growth includes the more cautious stance on the macro outlook, which is now factored into our guidance.”