Research memoBlock, Inc. (XYZ) · NYSEMemo of October 18, 2026

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.

November 3, 2026
Next results
6,617,687
Revenue, quarter to Jun 2026 (US$ thousands)
0.15
EPS, diluted, quarter to Jun 2026
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Every number traced to Block's filings8 chapters · 17,433 words268 sources cited

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.

Revenue by quarter (US$ thousands)5,975,801Sep 20246,032,561Dec 20245,771,796Mar 20256,054,457Jun 20256,114,952Sep 20256,252,478Dec 20256,056,847Mar 20266,617,687Jun 2026Revenue
Guidance in forceUS$ thousands
Period guidedLowHighDate given
Gross ProfitYear to Dec 202612,510,00012,510,000Aug 5, 2026
Gross Profit YoY GrowthYear to Dec 202621.0%21.0%Aug 5, 2026
Adjusted Operating IncomeYear to Dec 20263,470,0003,470,000Aug 5, 2026
Adjusted Operating Income YoY GrowthYear to Dec 202667.0%67.0%Aug 5, 2026
Adjusted Operating Income % MarginYear to Dec 202628.0%28.0%Aug 5, 2026
Adjusted Diluted EPSYear to Dec 20264.024.02Aug 5, 2026
Gross ProfitQuarter to Sep 20263,130,0003,130,000Aug 5, 2026
Gross Profit YoY GrowthQuarter to Sep 202618.0%18.0%Aug 5, 2026
Adjusted Operating IncomeQuarter to Sep 2026875,000875,000Aug 5, 2026
Adjusted Operating Income % MarginQuarter to Sep 202628.0%28.0%Aug 5, 2026
Adjusted Diluted EPSQuarter to Sep 20261.021.02Aug 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.

The last eight quartersUS$ thousands
Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue6,617,6876,056,8476,252,4786,114,9526,054,4575,771,7966,032,5615,975,801
Gross margin47.8%48.0%45.9%43.5%41.9%39.7%38.3%37.6%
Operating income446,870-171,990485,371409,440484,293329,30213,013323,009
Net income attributable to common stockholders88,517-308,681115,762461,544538,458189,8721,946,020283,754
EPS, diluted0.15-0.520.190.740.870.303.050.45
= Free cash flow966,609935,021579,8001,400,410343,012101,454-13,193628,164

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.

From the full memo · 1. The business

Block, Inc. makes money move for consumers and businesses. Cash App helps people hold and use money, while Square helps sellers take payments and run their operations.

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