- Block shares rose after adjusted earnings per share beat estimates despite a decline in Bitcoin revenue.
- Cash App’s gross profit has risen sharply, while Block’s revenue from the Bitcoin ecosystem has declined compared to last year.
On According to Google Finance, the company owned by Jack Dorsey, rose 7,93% after closing at $70,14, reaching $75,70. This came after a Block representative reported adjusted diluted earnings per share of $0,85, above the $0,68 forecast.
According to Block, total net revenue for the quarter ended March 31 was $6,06 billion, compared to $5,77 billion a year earlier. Gross profit reached $2,91 billion, up 27% from the 2025 target.
However, the overall earnings picture remained mixed. Block reported a net loss of $308,7 million attributable to common shares, compared to $189,9 million in the same quarter last year. Operating expenses increased from $1,96 billion to $3,08 billion.
Bitcoin Blockchain continued to make up a significant portion of Block’s revenue, but its impact weakened in the first quarter. Revenue from the coin fell to $1,80 billion from $2,33 billion a year earlier. Gross profit declined to $68 million from $92 million.
The company attributed the decline to “bitcoin trading dynamics” and a decision to reduce fees for some bitcoin transactions on Cash App. The company also recorded a BTC revaluation loss of $172,8 million, compared to a loss of $93,4 million in 2025.
Previously edited Happy Coin News Reported, that Block launched a public Proof-of-Reserves (PoR) system for Bitcoin-assets. This allows anyone to independently verify the company’s reserves using cryptographic proof.
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