Fintech company Block has raised its financial forecasts for 2026 after a successful second quarter. The gross profit of the organization increased by twenty-five percent and reached $ 3.17 billion. Adjusted operating profit was $863.8 million, and diluted earnings per share beat Wall Street expectations. At the same time, the revenue of the bitcoin ecosystem decreased by thirteen percent to $ 1.89 billion. The company attributed this to a strategic reduction in fees in the Cash App and a general slowdown in market activity.

Block recorded an unrealized loss on its bitcoin reserve in the amount of $88.5 million due to the revaluation of the asset. Despite this, the company continues to confidently hold 9117 bitcoins on its balance sheet. At the same time, the organization is actively developing cryptocurrency products for users. In the reporting quarter, the Cash App received full support for the USDC stablecoin. Customers can now freely conduct transactions with this digital asset in several different blockchains at once.

The company relies heavily on the introduction of artificial intelligence technologies into its work processes. In June, AI agents helped write and verify almost all changes to the production code. Block has successfully implemented a specialized tool called Builderbot to automate software development. The system independently created about fifteen percent of the entire corporate code. Previously, the company carried out a large-scale staff reduction, but in the spring it began to return the dismissed specialists in a targeted manner.