Block sees Q1 gross profit up 22% y/y to $2.8B

Block (XYZ) said: “We now expect $12.20 billion in gross profit for 2026, reflecting growth of 18% year over year. We expect full year Adjusted Operating Income of $3.20 billion, or 26% margin, growing 54% year over year. We expect gross profit in the first quarter to grow 22% year over year to $2.80 billion and we expect Adjusted Operating Income of $600 million, reflecting Adjusted Operating Income margins of 21%.”