Block earnings: guidance and next results
Block's next results are scheduled for November 3, 2026. Watch whether Block delivered its 28% adjusted operating margin while expanding investment.
What has Block guided for 2026?
Management guides to $12,510,000 thousand of 2026 gross profit, up 21%. It guides to $3,470,000 thousand of adjusted operating income, up 67%, at a 28% adjusted operating margin. Adjusted diluted EPS guidance is $4.02, up 70%. Longer term, management targets mid-teens annual gross-profit growth in 2027–2028 and about 30% annual adjusted operating-income growth.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Gross Profit | Year to Dec 2026 | 12,510,000 | 12,510,000 | Aug 5, 2026 |
| Gross Profit YoY Growth | Year to Dec 2026 | 21.0% | 21.0% | Aug 5, 2026 |
| Adjusted Operating Income | Year to Dec 2026 | 3,470,000 | 3,470,000 | Aug 5, 2026 |
| Adjusted Operating Income YoY Growth | Year to Dec 2026 | 67.0% | 67.0% | Aug 5, 2026 |
| Adjusted Operating Income % Margin | Year to Dec 2026 | 28.0% | 28.0% | Aug 5, 2026 |
| Adjusted Diluted EPS | Year to Dec 2026 | 4.02 | 4.02 | Aug 5, 2026 |
| Gross Profit | Quarter to Sep 2026 | 3,130,000 | 3,130,000 | Aug 5, 2026 |
| Gross Profit YoY Growth | Quarter to Sep 2026 | 18.0% | 18.0% | Aug 5, 2026 |
| Adjusted Operating Income | Quarter to Sep 2026 | 875,000 | 875,000 | Aug 5, 2026 |
| Adjusted Operating Income % Margin | Quarter to Sep 2026 | 28.0% | 28.0% | Aug 5, 2026 |
| Adjusted Diluted EPS | Quarter to Sep 2026 | 1.02 | 1.02 | Aug 5, 2026 |
What this means. Some 2027 targets have blank numbers because the company gave only descriptions such as “mid-teens” or “low-30%,” not exact figures.
Did Block keep its past promises?
Management made one promise that can be checked. It said in February 2025 that it expected to exit that year at a Rule of 40 run rate. The measure adds gross-profit growth to adjusted operating margin. In the fourth quarter of 2025, growth was 24% and adjusted operating margin was 20%. Together, they cleared the 40-point test.
What do Block’s last eight quarters show?
Revenue grew from the prior year, while gross margin also improved. Gross profit rose broadly, with Cash App growing faster than Square. That combination is healthier than payment volume rising without additional retained profit.
Reported operating income nevertheless fell, and net income fell more sharply. Contingencies, restructuring and other charges totalled $365,118 thousand in June 2026. Removing that category alone would raise operating income, but the category includes regulatory matters and impaired assets that may not be economically disposable.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6,617,687 | 6,056,847 | 6,252,478 | 6,114,952 | 6,054,457 | 5,771,796 | 6,032,561 | 5,975,801 |
| Gross margin | 47.8% | 48.0% | 45.9% | 43.5% | 41.9% | 39.7% | 38.3% | 37.6% |
| Operating income | 446,870 | -171,990 | 485,371 | 409,440 | 484,293 | 329,302 | 13,013 | 323,009 |
| Net income attributable to common stockholders | 88,517 | -308,681 | 115,762 | 461,544 | 538,458 | 189,872 | 1,946,020 | 283,754 |
| EPS, diluted | 0.15 | -0.52 | 0.19 | 0.74 | 0.87 | 0.30 | 3.05 | 0.45 |
| = Free cash flow | 966,609 | 935,021 | 579,800 | 1,400,410 | 343,012 | 101,454 | -13,193 | 628,164 |
What should I watch in Block’s next results?
The next scheduled results date is November 3, 2026. The September-quarter report should show whether Block delivered its 28% adjusted operating margin while expanding investment. The important follow-through is customer activity and cash conversion: a launch matters financially only when customers return and the resulting income exceeds acquisition, servicing and credit costs.