Jack Dorsey-led Block rises after lifting annual profit forecast

Block

07/05/2026 22:37

** Shares of Jack Dorsey-led payments firm Block XYZ.N jump 7.6% to $75.50 aftermarket

** Raises full-year profit outlook amid resilient consumer spending and strong growth in core businesses

** XYZ now expects annual gross profit to be $12.33 billion vs prior forecast of $12.20 billion

** Posts Q1 adj. profit of $513 million, or 85 cents per share, vs $355 million, or 56 cents per share, a year earlier

** As of last close, stock was up 7.7%

 (Reporting by Vallari Srivastava in Bengaluru)

 ((Srivastava.Vallari@thomsonreuters.com;))